Canopy Growth announces changes to Canadian operations
Production sites impacted represent 100% of its Canadian outdoor production.
SMITHS FALLS, Ont. — Canopy Growth Corp. is making changes to its Canadian operations as it aims for improved margins.
The cannabis company based Smith Falls, Ont. is shutting down operations in St. John’s, NL, Fredericton, NB, Edmonton, Bowmanville, Ont., and outdoor cannabis growing operations in Saskatchewan.
The closures will affect 220 employees.
The company is targeting cost savings of $150 million to $200 million.
“We are confident our remaining sites will be able to produce the quantity and quality of cannabis required to meet current and future demand,” said David Klein, Canopy Growth’s CEO.
The production sites impacted represent approximately 17% of the company’s enclosed Canadian footprint and 100% of its Canadian outdoor production footprint.