Cannabis News Week: Canopy Cuts Jobs, Pennsylvania Wants Safe Banking

Canadian cannabis company Canopy Growth  (CGC) – Get Canopy Growth Corporation Report is going through another round of layoffs, announcing last week that it is letting go of 245 employees, or about 8% of its workforce.

The newest round of layoffs means that the company has reduced its headcount by 1,600 since 2020, CEO David Klein’s first year as CEO. 

The company, which has yet to post a profit, has been struggling in the Canadian market as sales fall. 

Canadian cannabis sales fell 2% in January sequentially and 3% sequentially in February. 

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