The Supreme Cannabis Company cuts about 15% of its workforce, adopts new structure

TORONTO — The Supreme Cannabis Company Inc. says it has cut about 15 per cent of its workforce.

The Toronto-based company says it slashed about one-third of its corporate positions and 13 per cent of operational ones.

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The move comes as the company adopts a new structure aimed to accelerate revenue growth in Canada.

Supreme's layoffs follow mass cutbacks in the industry in recent weeks with some experts predicting more to come this year.

Aurora Cannabis Inc. recently slashed 500 staff jobs and Tilray Inc. said it would lay off 10 per cent of its workforce.

Sundial Growers also cut some of its staff recently.

This report by The Canadian Press was first published Feb. 11, 2020.

Companies in this story: (TSX:ACB)

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