Article by BNN Bloomberg
Aurora Cannabis to cut workforce by about 10%: Source
First it was Tilray, now it’s Aurora’s turn to announce a round of job cuts. BNN Bloomberg was first to report that Aurora Cannabis plans to cut its workforce by about 10 per cent, the latest cannabis company looking for ways to trim costs as it eyes profitability. The company, which has approximately 3,400 employees across more than 20 countries around the world, is expected to announce the job cuts in the next few days, according to a person directly familiar with the matter. An Aurora spokesperson said the company doesn’t comment on speculation or rumours.
Cannabis event organizer Lift & Co. trims losses in Q3 results
Cannabis data provider and event organizer Lift & Co reported its third-quarter results late Tuesday, posting an 11 per cent year-over-year increase in revenue to $926,000, while narrowing its net loss by seven per cent to $2 million. The company, which holds two cannabis industry events in Vancouver and Toronto every year, plans to expand into the U.S. market through several content partnerships over the next year. Lift & Co said it sold almost 900 licences for its CannSell, a requirement for Ontario “budtenders” to be able to sell legal pot in the province.