Curaleaf eliminating positions as it steps up cost-cutting measures

Cannabis company Curaleaf Holdings Inc. is eliminating “several positions” as it follows through on cost-control plans it shared with analysts recently. The company did not provide a specific number of job cuts. “Every responsible business is making tough choices right now, and as the cannabis industry evolves and faces unique challenges, we know there will continue to be ups and downs,” a company spokesperson told MarketWatch in a statement. “Curaleaf has made the difficult decision to eliminate several positions as a part of an effort to control costs and drive efficiencies in the face of economic uncertainties ahead.” The company also cited inflation, increased competition and slowing growth in the sector. On Nov. 8, Curaleaf executive chairman Boris Jordan told analysts the company was “taking appropriate actions” to ensure it continues driving growth and margin expansion next year. “We are taking the steps to right size our cost structure across all areas of the organization,” Jordan said. “We are tightening our belts, reducing store payroll hours and eliminating unnecessary expenditures” as the U.S. cannabis industry is projected to grow 13% in 2023. Shares of Curaleaf are up 0.2% on Wednesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Just 10 Percent Of Americans Think Marijuana Should Be Totally Illegal, Pew Poll Finds

Just one in ten Americans say that marijuana should remain completely illegal, according to a new Pew Research Center poll. The survey, published on Tuesday, found that an “overwhelming share of U.S. adults” (89 percent) feel that cannabis should be legal for either medical or recreational purposes. Among those, 59 percent say it should be […]

Feds revising cannabis questions for job applicants (Newsletter: November 23, 2022)

Biden cheers OR marijuana pardons; FDA warns CBD companies; RI legal sales starting next week; Colombian legalization vote; Poll: SC reform support Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day. (function() { window.mc4wp = window.mc4wp || […]

Colombian Senators Approve Marijuana Legalization Bill

A bill to legalize marijuana in Colombia has been approved in a Senate committee for the first time, weeks after it also advanced in the country’s Chamber of Representatives. Lawmakers have met several times in recent weeks to debate the reform proposal, which would amend the country’s Constitution to end cannabis prohibition for adults. It […]

Biden Cheers Oregon For ‘Following’ His Lead With Marijuana Pardons

President Joe Biden is cheering the Oregon governor’s move to grant tens of thousands of marijuana pardons this week, which followed his own federal clemency action last month. And he says other states should “follow Oregon’s example.” Gov. Kate Brown (D) announced on Monday that she was issuing pardons for more than 47,000 cannabis possession […]

Rhode Island Recreational Marijuana Sales Will Start Next Week, Governor Announces

The governor of Rhode Island announced on Tuesday that the state’s first adult-use marijuana retail sales will begin next week, on December 1. Gov. Dan McKee (D) and the state Department of Business Regulation (DBR) said that five existing medical cannabis dispensaries have been licensed as “hybrid” retailers that will be the first to serve […]