Cannabis Giant Curaleaf Trims Workforce in New Jersey Amid Market Glut

Curaleaf Holdings Inc (OTC: CURLF), a cannabis multistate operator (MSO), recently laid off 49 workers at its Winslow, New Jersey production facility.

The company stated that while the demand in the Garden State is high, the limited number of dispensaries results in lower-than-anticipated supply requirements to meet the market needs.

Curaleaf CEO: Scaling Back Amid Ample Supply

Curaleaf CEO Matt Darin explained that they are scaling back production due to ample supply meeting current needs and emphasized transparent communication with the union and regulators.

“This is where the business is,” he said. “Ultimately, when more dispensaries open up, we’ll ramp back up, and we’ll repopulate the grow rooms that we’re not going to populate for a few cycles here.”

This marks the second round of layoffs in the state, with a previous closure of the Bellmawr facility, resulting in 40 job cuts.

Nevertheless, Darin noted Curaleaf still retains over 150 employees in Winslow, and around 400 in New Jersey, including staff at their retail locations in Edgewater Park, Bordentown, and Bellmawr.

Join us at the Benzinga Cannabis Capital Conference on September 27-28 in Chicago, where industry experts will share valuable insights on cost management and strategic investments in the ever-changing cannabis landscape. Don't miss this opportunity to gain valuable advice and network with top professionals in the field where DEALS GET DONE. 

Related News

• Curaleaf Lays Off 220 Employees To Control Costs, Drive Efficiencies: Trend As Cannabis Companies Struggle?
• Curaleaf Lays Off 47 Employees In Colorado As Cannabis Industry Trend Continues

Photo by Markus Winkler on Unsplash.