Aurora Cannabis Inc. (ACB) on Tuesday announced plans to cut jobs and close five of its plants as it grapples with the financial impact of the coronavirus pandemic on the cannabis industry.The Canadian cannabis producer said it is reducing its selling, general and administrative (SG&A) staff by 25% and will cut 30% of its production workforce over the next two quarters. In addition, five of Aurora’s plants will be shut down so that production and manufacturing can focus on the company’s larger scale and highly efficient sites, it said.”With today’s announcement we have achieved our stated SG&A run-rate target and …read more
Source:: Yahoo Finance
