Labour losses at Calgary-based cannabis producer Sundial Growers
Sundial Growers says it had to lay off about 10 per cent of its workforce this week. (File)
CALGARY -- Sundial Growers, a Calgary-based cannabis producer that has a facility in Olds, Alta. announced that due to "organizational changes" it would be parting ways with less than 10 per cent of its workforce.
The company says recent challenges are partly what prompted the layoffs.
"We are doing this partially in response to challenging industry conditions, largely the because of regulatory delays that have resulted in fewer than anticipated stores across the country. This in turn has generated lower than expected sales for all players. The organizational changes will have no impact on the quality of our products," Sundial wrote in a statement to CTV News.
Sundial also said it wanted to "remain agile" in the changing cannabis market and doing whatever they can to balance supply and demand.
Officials did not give an exact number of jobs that would be lost as a result of the decision.
The company began in 2006 and worked very closely with Olds College.
Students of the school enrolled in its cannabis production program are offered two weeks' worth of hands-on experience at the facility.
There is no information on if any changes are expected in this partnership as a result of the layoffs.
Sundial's price (SNDL) on the NASDAQ dropped over eight per cent to $2.83 US per share at the end of trading Thursday.