Tag: Canopy Growth


Layoffs Continue at Canopy Growth, Constellation Brands’ Struggling Cannabis Producer


Canopy Growth Corp., a major marijuana producer, has laid off 200 staff from the Canadian, U.K. and U.S. offices This is the third round of cuts in the last few months—as it stands, the company has let go almost 1,000 employees, including COVID-19-related furloughs. In a statement to the Canadian Press, Canopy chief executive officer David Klein said, “Although difficult, the decisions that have been made over the last few months are to allow Canopy…


Why Legal Pot Was Taking a Hit in Canada, Weeks Before COVID-19 Sent Markets Plunging


The gains cannabis companies were banking on in the lead-up to legalization of recreational sales in October 2018 have not materialized. So, what went sideways? In February, weeks before COVID-19 was declared a pandemic and the stock market was sent into a tailspin, a handful of Canada’s largest cannabis companies were already in layoff mode. In B.C., Canopy Growth was preparing to shutter what was once the world’s largest licensed indoor growing operation, a sprawling…