Slashing weed jobs, diversifying the industry and identifying the skunk in the room

Growth op

The week that was offered a mix of happenings, from advancing diversity to shedding jobs, identifying why weed smells like weed and getting all excited about exports. Righting wrongs, advancing research and finding the right person for the job Happy dancing, double checking, going Dutchie and the (weed tax) revenue keeps rolling in Up and down: Lawsuits, fake websites, odourless tobacco and a really big U.S./Europe deal 48North refocuses and slashes workforce 48North Cannabis Corp. is streamlining its operations by immediately ceasing its GoodFarm outdoor growing operations west of Hamilton, Ont., a move that will contribute to shrinking the company workforce by about 20 per cent. Citing an industry in transition and a nationwide excess supply of weed, the streamlining seeks to further improve margins, bolster efficiencies and advance sustainable growth, reports the vertically integrated licensed producer (LP). Twenty-six staff will reportedly lose their jobs. 48North voiced its confidence that its indoor cultivation facility in Kirkland Lake, Ont., coupled with the company’s strategic partnerships with other LPs, “will ensure the quantity and quality of cannabis products required to meet expected demand.” Charles Vennat, CEO of 48North, previously reported that the company was able to grow 12,000 kilograms of cannabis at a cost of 25 cents per gram outdoors at GoodFarm compared to some indoor growers who spend $2 per gram, according to Global News . 48North’s rejigging of operations demanded “restructuring our workforce and redeploying resources towards commercialization, branding and innovation, and deepening relationships with retailers and wholesalers,” Vennat says in the statement, calling it “a difficult decision.” By decreasing its cash use and accelerating its pathway to profitability, 48North “expects the change will result in annualized fixed operating costs reductions in excess of $5 million.” Michigan accelerator invests in the next generation Michigan-based cannabis cultivator and processor Fluresh is…

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