Organigram To Layoff 220 Employees

Canadian cannabis producer Organigram Holdings (TSE: OGI) (NASDAQ: OGI) has announced a round of layoffs.

The Moncton, Canada-based company confirmed a staff reduction of 25%. That's 220 employees.

Organigram currently has about 609 workers, from which 89 are on temporary layoff.

“These decisions are never easy to make, but we are committed to ensuring the Company is appropriately sized relative to market conditions," Organigram CEO Greg Enge said. "We are incredibly grateful for the commitment that our affected employees have made in helping build the Company that Organigram is today.”

Production Changes

The company expects to announce that its Moncton campus is not going to harvest as much weed as previously planned.

Organigram also announced that it was given permission to file its third-quarter financial report by July 21, as opposed to the original deadline, July 15.

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