The Flowr Corp Fires 40% Of Its Workforce And Agrees To Sell Non-Core Asset As Cost Saving Measures

The Flowr Corporation (OTCPK:FLWPF) (TSX.V:FLWR) completed a significant corporate headcount reduction resulting in over $4 million in cost savings per year as well as an agreement to sell a non-core asset for aggregate gross proceeds of $3.4 million.

Headcount Reduction

The company has completed a headcount reduction necessary in order to flatten its organizational structure and right-size SG&A with revenue. The company has eliminated 40% of its workforce, largely in senior and middle management, resulting in an anticipated annual savings of over $4m.

Agreement …

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