Canadian cannabis producer BZAM has slashed another 90 employees as part of its merger with The Green Organic Dutchman Holdings (TGOD), which closed earlier this year.
The integration plan has resulted in the loss of 275 total positions.
ADVERTISEMENT
In its latest update, BZAM said the plan since its October 2022 merger with TGOD has focused on:
Eliminating redundant facilities. Realigning the company’s production activities across remaining sites. Reducing selling, general and administrative (SG&A) expenses to achieve the broader goal of positive earnings before interest, taxes, depreciation and amortization (EBITDA).
In the update, BZAM said it anticipates third-quarter net revenue of at least 20.3 million Canadian dollars ($16 million).
BZAM said it has reduced fixed operating overhead expenses by approximately CA$8 million annually since the merger and cut SG&A costs by roughly 40% on an annual run rate basis.
“It is no secret that the
Read full article on Marijuana Business Daily
