 While cannabis companies try to navigate the complicated legal and tax system they are forced to deal with, many if not most, have had a hard time keeping afloat financially.
Even the ancillary businesses have had to make changes and tighten belts. Today, Leafly announced a staffing reduction of 56 positions – or 21 percent of the company’s workforce through a combination of layoffs and attrition – to ensure its long-term health. In addition, the company has also put in place other cost-cutting measures to allow the company to prioritize growth opportunities, realign its expense structure, and preserve capital while strengthening its financial position. Yoko Miyashita, CEO of Leafly,said, “These reductions will help preserve our ability to respond to opportunities as this industry continues to mature and expand, and allow us to more effectively manage our capital.” Comments are closed.
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