By Tom Yun, CTV News on February 10, 2023
On Thursday, Canopy Growth Corp., one of Canada’s largest cannabis producers, announced that it would be laying off 800 workers, impacting 35 per cent of its workforce, and closing one of its facilities in Smiths Falls, Ont.
It’s the latest round of layoffs for an industry that has shown signs of struggling in recent months, four-and-a-half years after legalization. In the backdrop of all this, experts say high excise taxes and stiff competition from unlicensed sellers have made it difficult for legal growers to do business.
George Smitherman, president of the Cannabis Council of Canada (C3), says he wants to see Ottawa level the playing field for legal growers while ramping up enforcement actions against the illicit market.
– Read the entire article at CTV News.