Item 9 Labs Fires 20% Of Its Workforce, Reduces Total Overhead Expenses By Over 15%

Item 9 Labs Corp. INLB announced its efforts to streamline operations and consolidate employee duties.

With a goal of efficient profit creation and shareholder value, the company has consolidated employee headcount by 20%, which reduces many redundancies and better positions the company to become profitable while maintaining scalability. Further, in concert with the personnel shifts, the company has implemented other cost-saving measures designed to reduce total overhead expenses by over 15%.

Item 9 Labs Corp. announced leadership changes with the appointment of its chief franchise officer, Mike Weinberger, to CEO.

"We believe the Sessions acquisition has the potential to be a true game changer for Item 9 Labs Corp.," Weinberger stated. "Not only does it significantly increase our retail footprint and bring us into a new country, but we will be able to continue rapidly growing our store count because we now have the right people in the right seats."

He continued, "Our team leads below are the reason we have reached where we are today. Most can count their years in cannabis and franchising on two hands, and several have been with our Item 9 Labs and Unity Rd. brands from the start. They have done a phenomenal job lifting others up and pushing us along our growth plan."

Company promotions include:

  • Mark Busch, SVP of corporate development

  • Cory Carter, SVP of cultivation

  • Jayne Levy, SVP of communications

  • Tracy Timko, VP of franchise operations

  • Haley Henley, VP of human resources

  • Jojo Frey, VP of marketing

  • Eric Eisele, lab director

  • Michael Willis, director of sales

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Photo by Diyahna Lewis on Unsplash

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Posted In: CannabisNewsPenny StocksMarketsCory CarterEric EiseleHaley HenleyJayne LevyJojo FreyMark BuschMichael WillisMike WeinbergerpremiumSessions Cannabis.Tracy Timko
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