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Pot producer Hexo Corp cuts 200 jobs

Credit: REUTERS/CHRIS WATTIE

Canadian cannabis producer Hexo Corp said on Thursday it cut 200 jobs as it controls costs amid slower than expected store rollouts and as the government delays approval for cannabis derivative products.

Oct 23 (Reuters) - Canadian cannabis producer Hexo Corp HEXO.TO said on Thursday it cut 200 jobs as it controls costs amid slower than expected store rollouts and as the government delays approval for cannabis derivative products.

The company also announced the departures of Arno Groll, chief manufacturing officer and Nick Davies, chief marketing officer, and the elimination of some executive positions.

The company had withdrawn its 2020 forecast, earlier this month, blaming an uncertain environment.

(Reporting by Shanti S Nair in Bengaluru; Editing by Shailesh Kuber)

((ShantiS.Nair@thomsonreuters.com; +1 646 223 8780 Ext: 7208;))

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