The Canadian weed company that’s going to destroy $77 million worth of illegal cannabis plants and inventory, is slashing the jobs of a quarter of its workforce. It is the second major cannabis company to announce hundreds of layoffs this week amid a big downturn in the weed industry, a year after recreational pot was legalized.
CannTrust Holdings today announced that it is temporarily cutting 140 positions as it works to comply with Health Canada regulations. The licenced producer is dealing with an illicit weed scandal that forced out its CEO and raised questions about how the legal cannabis industry operates.ADVERTISEMENT
The scandal involved illegal grow rooms hidden behind fake walls, which produced at least five metric tons of pot, some of which was exported outside Canada. High-ranking CannTrust employees reportedly knew about the illegal grow op and didn’t stop it.
To read more, click on https://www.vice.com/en_ca/article/zmjk7w/major-canadian-weed-companies-are-cutting-hundreds-of-jobs-as-the-industry-struggles