Aurora Cannabis Inc. announced Thursday that it has completed a transformation plan delivering $340 million in annualized savings since February 2020, but said…
The plan involved an extensive restructuring and several rounds of layoffs and facility closures over the last three years as it contended with shifting COVID-19 measures and grappled with aligning supply and demand.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Aurora and others in the sector are still contending with an illicit cannabis market that has a significant hold on consumers and grappling with a mismatch between the industry’s once-lofty sales expectations and the volumes that have materialized instead. However, its net revenues were still under pressure during the period ended Dec. 31. They totalled $61.7 million compared with $60.6 million a year before.Article content
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