MedMen stock is tanking today after MedMen Enterprises (CSE:MMEN) (OTCQX:MMNFF) announced plans to lay off over 190 staff as part of its efforts to reduce spending, adding further misery to the cannabis market, which has been rocked by news of major layoffs in recent weeks.
Can Cost Cutting Save MedMen Stock?The reduction in staff is part of an overall plan to help generate positive EBITDA for the embattled cannabis firm. Of the 190 staff being let go, 80 of those are in corporate positions, which is 20% of the overall corporate staff. This will help ...
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