Aurora Cannabis (ACB) is cutting 12% of its workforce as the company restructures its
operations.
The Edmonton-based cannabis producer has not said how many workers will be impacted by
the headcount reduction.
The job cuts are part of an additional $90 million in cost savings Aurora Cannabis identified in its
earnings as key to it eventually reaching profitability.
Several Canadian cannabis companies have been overhauling their operations this year to
better align supply with demand in hopes of becoming profitable.
Earlier this year, Aurora Cannabis announced that it is closing three manufacturing plants,
including one in Edmonton where 13% of its workforce had been employed.
Aurora Cannabis stock is down 77% this year at $1.70 a share.
