Canopy Growth, a Canadian cannabis business, has announced that it will leave 245 employees, or about 8% of its workforce.
The company has decreased its headcount by 1,600 since 2020 due to the latest round of layoffs, according to CEO David Klein''s first year as CEO.
The company, which has yet to declare a profit, has a bleak business in Canada as sales fall.
Cannabis sales in Canada slowed 2% in January, and 3% in February.
For the ninth month in a row, the Canadian Cannabis LP Index fell until the end of March.
Canopy''s market share in Canada decreased to just 7% in the January-March quarter, from more than 11% in the previous year, according to Cantor Fitzgerald, which used data from Hifyre.
The company has also liquidated more greenhouses in Canada and completely destroyed its outdoor cultivation operations.
The company has recently stated that the cost-saking methods would assist them achieve their potential cost savings of $150 million to $200 million.
Cannabis should be legalized, according to a large majority of Americans.
According to surveys from the SSRS, 69 percent of Americans are adamantly opposed to legalized recreational marijuana use. This figure has increased to 84% of users who have tried the medication.
When compared to medical marijuana, those supermajorities become more popular, with 92 percent of Americans saying that medical cannabis should be legal.
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Democrats (94%) are less likely to support medical cannabis than Republicans (88%).
About 65% of Americans surveyed said they have used cannabis in the past.
52% of Gen Z users have used marijuana, while 68% and 67% of Millennials and Gen Xers have both tested the drug.
The biggest stoners are Baby Boomers, with 72 percent of respondents saying they''ve tested marijuana.
According to a survey, alcohol is more harmful to a person''s health than marijuana. Millennials, 71% of those who view alcohol as being more dangerous, are among those concerned.
According to a survey from Gen Z, the number of people aged 63 to 63% is up. Over half of Gen X and Baby Boomers, 55% and 52%, are concerned that alcohol is more harmful.
Pennsylvania is considering halting cannabis banking restrictions.
Pennsylvania''s lower house filed a bill that would eliminate safe banking restrictions for cannabis businesses.
Marijuana businesses will be eligible for tax benefits as well.
Both versions of the bill would provide state-level protections to banks and insurers, thus they won''t be punished federally for providing services for cannabis businesses in the United States.
According to Marijuana Moment, many cannabis-related businesses are locked out of the banking system without access to financial tools and are forced to operate exclusively in cash.
Dispensaries are a public safety danger aspirations that put patients, employees, and communities at danger.