Atlas Global Brands Inc. (CSE:ATL) has taken the necessary steps to leverage the combined capabilities across its six businesses following the completion of a business combination, involving Atlas Biotechnologies Inc., AgMedica Bioscience Inc. and Cambrosia Ltd. and the concurrent acquisition by Cambrosia of a 51% interest in each of Tlalim Pappo Ltd., Pharmacy Baron Ltd., and R.J. Regavim Ventures Ltd. – privately held operating cannabis pharmacies in Israel by reducing its aggregate workforce by approximately 20% and implementing a plan to reduce overlapping third party spending across the group.
“The actions taken today were necessary to align our operational strategies and unlock a sharing of best practices across our newly formed organization,” stated Bernie Yeung, CEO of Atlas Global. “These changes were not taken lightly but were necessary to enable the organization to move forward in a more cohesive manner, allowing us to accelerate our growth plans on the international stage through operational efficiencies.”
By leveraging the combined capabilities of the six operating units, the combined effect of workforce reduction, and elimination of cost redundancies …