After exiting Canada, Israel’s IM Cannabis reorganizes business

International medical cannabis company IM Cannabis Corp. is reorganizing its management and operations, including cutting up to 25% of its workforce.

The move comes months after the Glil Yam, Israel-based business exited the hyper-competitive Canadian cannabis market in order to focus on opportunities in Israel and Europe – in particular, Germany.

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IM Cannabis said it expects to realize approximately 3.5 million Canadian dollars ($2 million) in cost savings annually after the workforce reduction is completed by the middle of this year.

“The restructuring initiatives … (reflect) our determination to continue with our strategic plan by maximizing efficiencies to create a leaner and more flexible organization to better suit the current market environment and our short- to mid-term objectives,” CEO Oren Shuster said in a statement.

IM Cannabis is among a number of cannabis companies announcing major reorganizations in recent months.

Canopy Growth Corp., based in Ontario,

The post After exiting Canada, Israel’s IM Cannabis reorganizes business appeared first on GrowCola.com.

International medical cannabis company IM Cannabis Corp. is reorganizing its management and operations, including cutting up to 25% of its… Continue reading
The post After exiting Canada, Israel’s IM Cannabis reorganizes business appeared first on GrowCola.com. 

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