Curaleaf Hldgs Inc. (CSE:CURA, OTCQX:CURLF) has terminated an unspecified number of employees in its latest round of layoffs as it moves towards uplisting to the Toronto Stock Exchange, the marijuana multi-stage operator (MSO) confirmed this week.
The company declined to comment on what states and layoffs occurred and when they were effective.
“We can confirm that some positions have been eliminated as a part of a continued effort to identify synergies and further business optimization and integration,” the company said in the statement provided to the media by Curaleaf Senior Director of Public Relations Jordon Rahmil.
“While it’s never an easy decision to lose team members, this process is a normal course of business as we continue to balance our needs and resources to drive the business forward.”
Curaleaf employed about 5,500 people across 18 states as of its September investor presentation.
The fresh wave of layoffs comes after the company in July let go 49 workers at its Winslow cultivation and production facility in New Jersey.
Prior to this, it closed its Bellmawr, New Jersey cultivation facility and shuttered its operations in the states of California, Colorado, and Oregon.
Curaleaf shares traded down 2.8% at US$3.40 on Tuesday afternoon. The stock is down 14.6% in the year-to-date.
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