Canopy Growth is planning to restructure its Canadian cannabis operations, which will see the departure of more than one-third of its workforce while shrinking its cultivation and production businesses in its latest attempt to cut costs and seek…
Canopy Growth Corp. is planning to restructure its Canadian cannabis operations, which will see the departure of more than one-third of its workforce while shrinking its cultivation and production businesses in its latest attempt to cut costs and seek profitability.Thursday that it will now grow its cannabis in two facilities in Kelowna, B.C. and Kincardine, Ont., while ending its cultivation at its Smiths Falls, Ont. headquarters as well as through its joint venture in Mirabel, Que.
Flush with $5 billion in cash from an investment made by alcohol-giant Constellation Brands Inc., Canopy embarked on a nationwide blitz with production facilities and offices across Canada in an effort to lead the country’s cannabis space.
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