Canadian cannabis producer Organigram Holdings OGI OGI has announced a round of layoffs.
The Moncton, Canada-based company confirmed a staff reduction of 25%. That's 220 employees.
Organigram currently has about 609 workers, from which 89 are on temporary layoff.
“These decisions are never easy to make, but we are committed to ensuring the Company is appropriately sized relative to market conditions," Organigram CEO Greg Enge said. "We are incredibly grateful for the commitment that our affected employees have made in helping build the Company that Organigram is today.”
Production Changes
The company expects to announce that its Moncton campus is not going to harvest as much weed as previously planned.
Organigram also announced that it was given permission to file its third-quarter financial report by July 21, as opposed to the original deadline, July 15.
Photo via unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!