Multi-state cannabis operator, Columbia Care Inc (OTCQX: CCHWF), which owns Green Leaf Medical LLC, is laying off numerous workers at its Saxton facility, reported the Bedford Gazette. Per data from the Department of Labor & Industry, 73 employees will be laid off, effective February 28.

It seems that the decision was provoked by the ongoing demand and supply issues across the cannabis industry. The Covid-19 pandemic and related lockdowns also played an important role in this matter, which ultimately led to a steep decline in weed prices. Why? It can be assumed that the industry expected that people who began consuming marijuana during the pandemic or were consuming more than normal would continue to do so when the crisis ended.

Unfortunately for marijuana growers and farmers, that didn’t happen, which resulted in an oversupply of raw cannabis. Bank of America analyst Lisa K. Lewandowski recently …

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