Aurora Cannabis to Cut 10% of Its Workforce, According to Source

Major cannabis companies have been struggling to turn a profit, and many have gone so far as to lay off large numbers of employees in their efforts to stem their losses. It now appears that Aurora Cannabis (NYSE: ACB) will be the next to announce layoffs: According to Bloomberg, an unnamed source with direct knowledge of the company's plans has said it will cut its workforce by 10%.

Bloomberg's source said Aurora, which employs around 3,400 employees across 20 countries, will publicly announce the job cuts in the next few days. Significant numbers of those cuts are expected to fall on consultants working for the cannabis giant as contractors.

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Source Fool.com