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Report: Aurora Cannabis Set To Trim Workforce By 10%

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Report: Aurora Cannabis Set To Trim Workforce By 10%

By Jelena Martinovic.

Aurora Cannabis Inc (NYSE: ACB), a large Canadian medical marijuana producer and distributor with roughly 3,400 employees in more than 20 countries, intends to cut its workforce by about 10%, according to BNN Bloomberg, which cited a person directly familiar with the matter.

The first to go will be consultants hired by the cannabis company on a contract basis, according to the Wednesday story.

If the layoffs materialize, Aurora would be the latest cannabis company to reduce their head count.

In email correspondence with BNN Bloomberg, the company's senior media strategist, Laura Gallant, didn’t confirm the speculation.

An Aurora spokeswoman told the publication that the company does not comment on speculation or rumors.

Aurora recently placed its Ontario production facility on the market and parted ways with Chief Corporate Officer Cam Battley.

The company revised a credit facility to achieve a positive EBITDA by the end of its fiscal year in June. 

The stock was down 4% at $2.04 at the time of publication Thursday.

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