Hexo Corp (NASDAQ:HEXO), a leading producer of high-quality cannabis products, is cutting 180 jobs, as part of the Canadian company's cost-cutting plan, resulting in annual savings of approximately $15 million on an annualized basis.
Half of these positions are related to the previously announced closure of its Stellarton facility. The remaining reductions are related to reducing back-office positions where there is significant overlap as a result of recent acquisitions and simplifying HEXO’s operating model to drive clearer accountability.
