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Aurora Cannabis to cut jobs in Europe

Click to play video: 'Aurora Cannabis downsizing part of ‘right-sizing’ industry: analyst'
Aurora Cannabis downsizing part of ‘right-sizing’ industry: analyst
WATCH: Aurora Cannabis downsizing part of ‘right-sizing’ industry, says analyst – Jun 23, 2020

Aurora Cannabis Inc. is reorganizing its European operations and cutting some jobs.

The Edmonton-based cannabis company says in an email to The Canadian Press that the layoffs will amount to a one-quarter workforce reduction in select countries and in a regional office.

Spokeswoman Laura Gallant refuses to specify exactly how many workers or which specific offices are impacted, but says the decision is part of Aurora’s restructuring it announced in February.

The restructuring aims to help Aurora better align its international operations with current market conditions and has already caused more than 1,000 employees to be laid off and more than five Aurora sites to be closed.

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The company says it will also fully acquire its Aurora Nordic Cannabis A/S facility in Odense, Denmark, which it will use to ramp up operations over the next 12 months and meet demand in the European medical cannabis market.

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Click to play video: 'Aurora Cannabis laying off workers, CEO to step down'
Aurora Cannabis laying off workers, CEO to step down

Mads Ulrik Peterson, who is currently CEO of Aurora Nordic, has been appointed president of the European organization effective immediately and will oversee a new growth strategy.

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