The Globe and Mail reports in its Friday, Feb. 10, edition that Canopy Growth announced Thursday plans to adopt an "asset-light" model in Canada. The Globe's Jameson Berkow writes that more than one-third of Canopy's staff -- about 800 people -- will lose their jobs as a result of the plan. Canopy's flagship production facility, housed alongside its headquarters in a former Hershey chocolate factory in Smiths Falls, Ont., will also be closed. Chief financial officer Judy Hong said the "rightsizing" of Canopy's Canadian business will significantly reduce cash costs. Canopy expects to save from $140-million to $160-million over the next 12 months. At its peak in early 2019, Canopy had a market capitalization of just over $18-billion. The company is now worth less than $2-billion. After Thursday's announcement, Stifel Financial analyst Andrew Carter said future success will "largely depend on investor enthusiasm amid an environment where cannabis sentiment is at best apathetic." Canopy's stock has lost nearly 94 per cent of its value over the past two years, falling from a February, 2021, high of $54.76 to close at $3.06 in Toronto on Thursday, though the company's declining fortunes started earlier.