It's Not Just Trulieve: Multiple Cannabis Companies Confirm Layoffs, Turbulent EOY

Author: Nicolás Jose Rodriguez | December 15, 2022 05:50pm

Cannabis company Trulieve Inc. (OTCQX:TCNNF) has reportedly laid off an unspecified number of employees at its McKeesport growing facility in Pennsylvania.

A spokesman for the company told the Business Times that Trulieve was "temporarily reducing production" at the facility due to "greater efficiencies" throughout its supply chain and retail operations.

The Quincy, Florida-based company isn't the only cannabis player announcing cuts:

• WM Technology Inc. (NASDAQ:MAPS) recently cut 25% of its workforce or 175 employees.
• Curaleaf Holdings (OTC:CURLF) which laid off around 220 employees
• Leafly (NASDAQ:LFLY) fired 21% of its workforce in October, claiming annual savings of $16 million
• The Flowr Corp (OTC:FLWPF) cut 40% of its workforce in an effort to save the company from bankruptcy
• Aurora Cannabis (NASDAQ:ACB) cut off 12% of its global workforce, planning to result in cost savings worth up to $69 million;
• Dutchie laid off 7% of its staff in June.
• Santa Rosa-based Sonoma Lab Works, a longstanding cannabis testing lab in northern California, shut down due to price compression and weak margins, informed Green Market Report (GMR) on Wednesday.

“It’s clearly due to the struggles we’ve faced in the cannabis testing space. Prices [are] going down, and [companies are] just not making enough revenue to keep the doors open,” a Sonoma employee told GMR.

Separately, Trulieve is currently stuck in a class action lawsuit for allegedly violating the Workers Adjustment and Retraining Notification Act (WARN) of 1988, which states that employees need at least 60 days advance notice of terminations.

The suit alleges that a number of workers were fired “without cause on or about November 29."

See Also: Cannabis Employee Dies From Inhaling Dust At Trulieve Facility

Image By FelixMittermeier On Pixabay. 

Posted In: ACB CURLF FLWPF LFLY MAPS TCNNF