Cannabis company Acreage just cut 40 jobs following a strategic review, and it's the latest sign of a tough environment for cannabis sellers
The company posted disappointing fourth-quarter earnings, amid a tough market for cannabis companies.
The source added that the job cuts were across the organization and not concentrated in one specific team or department. Acreage Holdings has well over 250 employees, a company spokesperson said. , who posted a snippet of a memo circulated to Acreage employees. Business Insider then reviewed a full copy of the memo.
"As the life cycle of our business continues to mature, we continually assess our resources against our corporate strategic objectives," Acreage Vice President of Communications Howard Schacter said in a statement. "When we conducted our last assessment we identified functions across certain departments and in our Form Factory business unit in places that are not as critical today as when they were first acquired.
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