The Hexo Corp. logo on the wall of the Gatineau-based company is partially obscured by cannabis plant leaves in this undated photo. (CTV Ottawa)
Hexo Corp. says its ongoing plan to streamline the cannabis business and cut costs includes the reduction of 450 jobs.
The Gatineau, Que.-based marijuana producer says in financial filings that the reduction will result in annualized savings of $30.6 million and is meant to simplify its organizational structure so costs are more closely aligned with the businesses' size.
The company's latest management's discussion and analysis paper says most of the reductions will be achieved by relying less on outside consultants, a new informational technology platform and synergies discovered through recent acquisitions.
The document also says the company will close a processing and manufacturing facility in Belleville, Ont. by the end of July 2022.
The company did not immediately respond to a request for comment on the cuts, which came as Hexo announced that it lost about $147 million in its third quarter compared with $21 million during the same period the year prior.
Its revenue for the three months ended April 30 totalled about $46 million, up from roughly $23 million in the third quarter of 2021.
This report by The Canadian Press was first published June 15, 2022.
China said Monday it was extending threatening military exercises surrounding Taiwan that have disrupted shipping and air traffic and substantially raised concerns about the potential for conflict in a region crucial to global trade.
Alberta Health Services has issued an enforcement order against a Banff home after an inspection discovered that as many as 42 people were staying inside the property, saying the maximum number of occupants of the facility 'was exceeded.'
A state of emergency remains in place for central Newfoundland, as well as a provincewide outdoor fire ban, as a long-burning forest fire continues to grow.
Five people, including a suspect, were taken to hospital with serious injuries after a violent incident that drew a massive police presence to downtown Vancouver's main entertainment district Saturday night.
Air Canada denied a customer complaint and instructed employees to classify flight cancellations caused by staff shortages as a "safety" problem, which would exclude travellers from compensation under federal regulations. That policy remains in place.
The rapid growth of a long-burning forest fire in central Newfoundland has triggered a state of emergency in the area and the expansion of an outdoor fire ban to the entire province.
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Environment Canada has extended heat warnings in a number of provinces, as unseasonably hot conditions continue across the country.
Canada's summer of heat waves continues this weekend, with warnings issued in four provinces. CTVNews.ca looks at some of the heat records broken already this year in Canada.
A state of emergency remains in place for central Newfoundland, as well as a provincewide outdoor fire ban, as a long-burning forest fire continues to grow.
One of the longest serving MLA’s currently in the New Brunswick legislature says he was the one to offer new Liberal leader Susan Holt his seat should she choose to run in a by-election before the next provincial election.
According to police, Lucien Dubois was last seen leaving a residence on Boom Road in his vehicle Friday. He was later reported missing Sunday afternoon.
A suspect already in handcuffs managed to overpower a Toronto police officer and steal their SUV, sending police on a wild early morning chase in the city’s midtown area on Monday.
Here's what you need to know as Ontario's politicians return to Queen's Park.
Metrolinx cancelled a number of GO Train trips Monday and says more cancellations are possible this week amid staffing shortages.
Montreal's Pride Parade has been cancelled due to a lack of volunteers able to guarantee a secure event.
A suspect has been apprehended by Montreal police (SPVM) following the death of a 37-year-old man, who appears to have fallen down a flight of stairs.
Air Canada denied a customer complaint and instructed employees to classify flight cancellations caused by staff shortages as a "safety" problem, which would exclude travellers from compensation under federal regulations. That policy remains in place.
Air Canada denied a customer complaint and instructed employees to classify flight cancellations caused by staff shortages as a "safety" problem, which would exclude travellers from compensation under federal regulations. That policy remains in place.
When schools in one North Carolina county reopen later this month, new security measures will include stocking AR-15 rifles for school resource officers to use in the event of an active shooter.
Alberta Health Services has issued an enforcement order against a Banff home after an inspection discovered that as many as 42 people were staying inside the property, saying the maximum number of occupants of the facility 'was exceeded.'
Most of southwestern Ontario remains under a heat warning, and London-Middlesex is no exception, as temperatures are expected to reach 40 C with the humidex Monday.
Here's what you need to know as Ontario's politicians return to Queen's Park.
The union representing 2,200 GO Transit bus operators, station attendants, plant and fleet maintenance workers, transit safety officers, and office professionals says their members have voted 93 per cent in favour of going on strike if necessary.
Winnipeg Police are looking into a reported shooting early Sunday morning in River East.
A city-wide average of 88 mosquitoes per trap on Saturday is prompting the City of Winnipeg to start fogging for adults.
Alberta Health Services has issued an enforcement order against a Banff home after an inspection discovered that as many as 42 people were staying inside the property, saying the maximum number of occupants of the facility 'was exceeded.'
Environment Canada has issued a heat warning for most of southwestern Ontario, including Waterloo-Wellington, with local temperatures expected to climb into the high twenties or low thirties.
The aftermath of the Old Marina Restaurant fire, a storm that tore through Elora, and the continued decreased of real estate prices in Waterloo Region round out the top stories of the week.
Metrolinx cancelled a number of GO Train trips Monday and says more cancellations are possible this week amid staffing shortages.
Calgary firefighters were called to a two-alarm fire in a northeast community on Sunday and officials say two homes were damaged.
Five people, including a suspect, were taken to hospital with serious injuries after a violent incident that drew a massive police presence to downtown Vancouver's main entertainment district Saturday night.
Alberta Health Services has issued an enforcement order against a Banff home after an inspection discovered that as many as 42 people were staying inside the property, saying the maximum number of occupants of the facility 'was exceeded.'
When Chris Rod and other fellow organizers first met three years ago to discuss what would become The Saskatchewan Filipino Music and Food Street Fest, he never imagined what he saw all weekend at Kiwanis Memorial Park.
A two-year-old child from Regina has been found safe, following an alleged abduction and Amber Alert.
Sask. RCMP received a report that the body of an adult man had been discovered on Aug 6. on the Ahtahkakoop Cree Nation.
The Montreal Canadiens haven't brought the Stanley Cup home since 1993 -- but a very convincing replica is sitting in a garage in Boisbriand, Que., about 35 km northwest of Montreal.
Alberta’s Advanced Education minister says he is willing to help Athabasca University with whatever it wants – including money – to relocate 500 employees to the small town that's the school's namesake, but says the school has not stepped up.
Edmonton police are investigating after a woman died and a second person was injured following an incident in northeast Edmonton Saturday.
A nurse working in one of B.C.'s short-staffed hospitals is speaking out after she says she was assaulted by a patient who made a racist remark.
Smoke from a fire that engulfed a home in West Vancouver could be seen from kilometres away Sunday afternoon, as crews closed a major road to fight the blaze.
Marty Marchand is one of the hundreds of Olalla, B.C. residents who were ordered to leave their homes this week because of the aggressive, out-of-control Keremeos Creek wildfire.
A two-year-old child from Regina has been found safe, following an alleged abduction and Amber Alert.
Sask. residents living in the province’s major centres may witness some surveying being done by Apple Maps in the coming weeks.
Air Canada denied a customer complaint and instructed employees to classify flight cancellations caused by staff shortages as a "safety" problem, which would exclude travellers from compensation under federal regulations. That policy remains in place.
