Canopy Growth Corp. said Thursday it plans to reduce headcount by 800 positions as part of an effort to cut costs. The cannabis company, which faces a...
Canopy Growth Corp. CGC said Thursday it plans to reduce headcount by 800 positions as part of an effort to cut costs. The cannabis company, which faces a challenging cannabis market in Canada, said its third-quarter revenue fell 28% from the year-ago period, while its net loss widened. Canopy Growth said its loss for the three months ended Dec. 31 increased to C$261.58 million, or 54 cents a share, from a loss of C$108.9 million, or 28 cents a share, in the year-ago quarter.
CGC said Thursday it plans to reduce headcount by 800 positions as part of an effort to cut costs. The cannabis company, which faces a challenging cannabis market in Canada, said its third-quarter revenue fell 28% from the year-ago period, while its net loss widened. Canopy Growth said its loss for the three months ended Dec. 31 increased to C$261.58 million, or 54 cents a share, from a loss of C$108.9 million, or 28 cents a share, in the year-ago quarter. Net revenue dropped to C$101.
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