Aurora Cannabis Announces More Layoffs, Here's Why

Aurora Inc. (NASDAQ: ACB) continues to trim its workforce as it seeks to achieve profitability.

The Edmonton, Alberta-based giant confirmed in an email to Business Daily that the cutting of 12% of its global workforce will result in additional cost savings worth up to CA$90 million ($69 million).

“Today we delivered against that commitment as we announce a corporate reorganization that will allow Aurora to operate as a leaner, more agile, and future-focused company, fit for success in the evolving global cannabis industry,” a spokesperson said Tuesday. “Aurora continues to make substantial improvements to our business as we work through the phases of our transformation plan, designed to deliver shareholder value, and secure Aurora’s future as a leading global cannabis company.”

Aurora’s ‘Business Transformation Plan’

For over two years, the company has been undertaking its 'business transformation plan' …

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