Hexo cuts 200 jobs which includes executives just after income warnings, shares tumble writes the Canadian Business enterprise Post.
Here’s what’s getting mentioned so far…
Quebec licensed producer Hexo Corp. slashed its workforce Thursday afternoon, cutting 200 jobs across all departments and places, which includes the elimination of particular executive positions.
Hexo’s stock dropped six per cent following news of the cuts, erasing a equivalent achieve it had produced on Wednesday following news of a $70 million private placement raise, led by the company’s CEO, Sebastien St-Louis.
“This has been my hardest day at Hexo Corp.,” mentioned St-Louis. “While it is very challenging to say goodbye to trusted colleagues, I am confident that we have produced sound choices to assure the lengthy-term viability of Hexo. The actions taken this week are about suitable-sizing the organization to the income we count on to attain in 2020.”
Study far more at
Hexo cuts 200 jobs which includes executives just after income warnings, shares tumble