Does Aurora Cannabis' Staff Downsizing Upsize the Pot Stock's Appeal?
Heads are about to roll at Aurora Cannabis (NYSE: ACB). Bloomberg reported earlier this week that the Canadian cannabis producer plans to slash 10% of its workforce. The report was based on an unnamed source who said that the cuts were intended to help the company in its goal to achieve profitability.
Aurora officially confirmed a staff reduction on Thursday, announcing that it had "eliminated close to 500 full-time equivalent staff across the company, including approximately 25% of corporate positions." This move isn't surprising. Other Canadian cannabis producers have also taken steps to lower their headcount, with Tilray announcing on Tuesday that it's laying off 10% of its workforce as part of a restructuring.
Does Aurora Cannabis' staff downsizing actually upsize the appeal of this beaten-down pot stock?
Source Fool.com
