00:16:29 EDT Tue 30 Apr 2024
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or Name
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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 113,251,146
Close 2020-07-20 C$ 15.64
Market Cap C$ 1,771,247,923
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Globe/CP say Aurora reorganizes, cuts jobs in Europe

2020-07-21 08:38 ET - In the News

The Globe and Mail reports in its Tuesday edition that Aurora Cannabis is reorganizing its European operations and cutting some jobs. A Canadian Press dispatch to The Globe says that the Edmonton-based cannabis company says the layoffs will amount to a one-quarter work force reduction in select countries and in a regional office. The company declined to specify exactly how many workers or which specific offices are affected, but says the decision is part of Aurora's restructuring announced in February. The restructuring aims to help Aurora better align its international operations with current market conditions and has already caused more than 1,000 employees to be laid off and more than five Aurora sites to be closed. The company says it will also fully acquire its Aurora Nordic Cannabis A/S facility in Odense, Denmark, which it will use to increase operations over the next 12 months and meet demand in the European medical cannabis market. Mads Ulrik Pedersen, who currently runs Aurora Nordic, has been appointed president of the European organization and will oversee a new growth strategy. Aurora closed Monday at $15.64, down 52 cents on the Toronto Stock Exchange.

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