Canopy Growth cutting 55 jobs, restructuring Canadian operations

Dozens of jobs are on the chopping block as Canopy Growth restructures its operations in Canada.

According to BNN-Bloomberg, the licensed cannabis producer is laying off 55 employees and plans to make Dave Paterson the new president of its Canadian operations.

“Our executive structure and operations are now more closely aligned with the areas of greatest opportunity and reflect Canopy Growth’s resolute focus on achieving profitability in Canada,” a company spokesperson said in an emailed statement.

“Together with our recently announced strategy for fast tracking entry into the U.S., these adjustments further position Canopy Growth to realize our ambition of North American cannabis market leadership.”

Canopy Growth added that it will treat its Canadian operations as a standalone business unit.

The company didn’t specify which facilities across the country will be impacted by the latest round of cuts.

Recent layoffs in Canada

In addition to Canopy Growth, several Canadian companies have recently announced significant layoffs.

Manulife, Switch Health, Allstate Canada, Twitter Canada, Shopify, Clearco, and Wealthsimple have substantially reduced their workforces as they continue to monitor market conditions.

According to Canopy Growth’s LinkedIn page, the company employs more than 1,200 people.

SEE ALSO
• Aurora Cannabis laying off 12% of workers, reorganizing
• B.C. cannabis stores laying off staff as job action halts deliveries
• Layoffs in Canada

Termination agreements for Canopy Growth employees

In Canada, non-unionized employees and senior executives at Canopy Growth are owed full severance pay when they lose their jobs due to downsizing or corporate restructuring.

Severance can be as much as 24 months’ pay, depending on a number of factors.

LEARN MORE
• Severance packages in mass layoffs
• Severance pay for cannabis industry employees
• Rights to severance for provincially regulated employees

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Before you accept any severance offer, have an experienced employment lawyer at Samfiru Tumarkin LLP review it and your employment contract.

We can tell you if what you have been provided is fair and how to get proper compensation if it falls short of what you are actually owed.

If you aren’t given the full amount, which happens often, you have been wrongfully dismissed and are entitled to compensation.