California: Flow Kana “forced” to cut 20% of its workforce,

Here’s the  the report about the state of the cannabis industry in California. A . the blame seems to be laid at the state’s feet. We don’t see any comments from wither the publication or the companies about the risks of rapid growth in a developing (state only) market. Maybe, just maybe a little conservatism and common sense may have mitigated some of the risks? Here’s the report   The cannabis industry in North America is facing an ‘epidemic’ of recent job layoffs and a plummet in the price of pot stocks. This week, California-based Flow Kana was forced to cut 20% of its workforce, although CEO Mikey Steinmetz has pointed the finger of blame towards the state. “It was one of the toughest decisions that I’ve ever had to make,” he said. “It almost feels like an epidemic of companies of similar size going through similar processes.” This statement comes after similar companies such as Ease and Weedmaps were also reportedly laying off staff members. Alongside the CEO of Eaze stepping down, the cannabis delivery giant announced that 36 members of the workforce were let go, which represents around 20% of their overall workforce. Cannabis advertising giant Weedmaps also announced via the…

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Source : CANNANNEW REPORT
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