By Ankit Kumar<\/p>\n
Feb 9 (Reuters) – Canopy Growth Corp said on Thursday it would shed assets in Canada and evDeN EVe naKliYAt<\/a> cut 800 job positions as part of the pot producer’s efforts to reduce costs and turn profitable.<\/p>\n Shares of the company, which reported a bigger quarterly loss, plunged 16.6% to C$3.06 at the closing of trade.<\/p>\n The company has been cutting costs through layoffs, exit from some international markets, store closures and divestiture of its retail business across Canada.<\/p>\n The company expects to save C$140 million ($104. In the event you cherished this information along with you wish to receive details concerning evDeN evE Nakliyat<\/a> kindly go to our own web-site. 10 million)to C$160 million over the next 12 months.<\/p>\n Its streamlining efforts in Canada include exiting cannabis flower cultivation in its Smiths Falls, Ontario facility, ceasing the sourcing of cannabis flower from the Quebec facility, and moving to a third-party sourcing model for cannabis beverages, edibles, vapes and extracts.<\/p>\n The company expects to complete the operational changes in the second quarter of fiscal 2024 and record restructuring-related pretax charges of C$425 million to C$525 million in the current quarter and EVDEN eVE NaKLiyaT<\/a> the first half of fiscal 2024.<\/p>\n