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Canopy Growth earns $392 4 million in Q1 on 23% increase in revenues - Business News
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Canopy Growth cites growing pains for lacklustre first quarter
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Canopy Growth earns $392 4 million in Q1 on 23 per cent increase in revenues
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Canopy Growth loss narrows on pot demand surge, cost cuts
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Additionally, each executive was given a raise, with the exception of Klein. Although the raises were chump change when compared to executive salary and bonuses at just $14,000 to $25,000 per exec, comparatively, the employees who escaped the last round of layoffs received a median salary of about $58,000 per year.
Klein received a salary of $1.2 million, plus the aforementioned $2.2 million dollar bonus as well as $127,000 in additional compensation, earmarked “other” totalling $3.7 million.
In April 2020, Canopy announced it would be laying off 200 workers. The company then announced the closure of five facilities across Canada, resulting in job losses for another 220 employees, last December. Another round of layoffs in March this year saw 75 more workers lose their positions.