Canopy confirms layoffs at Niagara-on-the-Lake cannabis facility


Cannabis producer Canopy Growth has conducted more layoffs, this time at its operation in Niagara-on-the-Lake, Ontario, the company confirmed.

“Canopy Growth did conduct a number of layoffs in Niagara-on-the-Lake as a part of the larger restructuring efforts outlined by the company earlier this year,” according to Jordan Sinclair, vice president of communications for the Smiths Falls, Ontario-based company.

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Earlier this summer, Canopy said it decreased its staff headcount by more than 18% since the beginning of 2019.

“These decisions are never easy and we want to thank the employees affected for the contributions they made to Canopy.”

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“We’ll update the company’s employee count when we report our financial results later in the fall,” Sinclair said.

Canopy declined to confirm the number of employees involved.

Canopy reported a net loss of more than 128 million Canadian dollars ($95.7 million) in the first quarter of its fiscal year.

The company’s wholly-owned 1 million square foot facility in Niagara, called Tweed Farms, consists of a hybrid greenhouse with cultivation and post-harvest processing, as well as a GMP-certified area.

Canopy’s shares trade as CGC on the New York Stock Exchange and WEED on the Toronto Stock Exchange.

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