TORONTO - Tilray Inc. is laying off 10 per cent of its workforce in an effort to cut costs. The Canadian cannabis company’s chief executive officer Brendan Kennedy says in a statement to The Canadian Press that the layoffs will help Tilray better position itself to achieve profitability. By reducing headcount and costs, Kennedy says Tilray will be more likely to meet the needs of the industry and foster growth in 2020 and beyond. The company would not share what offices and departments will be affected by the layoffs, but said the company’s total headcount is about 1,443. Companies in this story: (TSX: TLRY)This report by The Canadian Press was first published Feb. 4, 2020.

Source: thestar February 04, 2020 21:11 UTC