Canopy Grow Facility Announces Lay-Offs | Cannabis Now

  • Canopy Growth s CEO David Klein admitted to over-optimistic market projections in announcing plans to shut the 1.7-million-square-foot greenhouse in the town of Delta and a 1.3-million-square-foot greenhouse in Langley.
  • Following a strategic review of production capacity and forecast demand, the company announced today that these facilities are no longer essential to its cultivation footprint, Klein said in a statement to the Vancouver Sun .
  • Additionally, federal regulations permitting outdoor cultivation were introduced after the Company made significant investments in greenhouse production.
  • Health Canada issued new regulations allowing outdoor cultivation in June 2018, in what the Globe & Mail called a new, cheaper source of competition to established indoor producers.

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