Curaleaf said it will pull out of California, Colorado and Oregon in the face of cannabis price compression and challenges from illicit sales
Curaleaf said Thursday it has cut 10% of its staff as it exits California, Colorado and Oregon in the face of price compression and unchecked competition from the illicit market.
Curaleaf CURLF CURA will disclose non-cash restructuring and impairment charges for the action when it releases fourth-quarter earnings in March. The company will operate in 16 states, down from 19 currently. The job reductions will generate about $60 million in gross run-rate expense savings, which exceeds its target by 50%.
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