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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (69829)	10/28/2019 7:13:55 AM
From: Goose94	Read Replies (1) \| Respond to of 203220

Can'tTrust (TRST-T) said Friday it is laying off as many as 140 people -- about one quarter of its staff -- while it strives to regain its federal licences to sell and produce pot. Canntrust said late Thursday there will be a series of phased layoffs between late October and the end of the year. The cuts are expected to result in monthly cash savings of about $400,000 and cost up to $800,000 in severance payments if the employees are not recalled within 35 weeks. Interim chief executive officer Robert Marcovitch in a statement: "This was a difficult decision, but it is imperative that our work force reflects the current requirements of our business. Reducing the company's current operating expenses supports our financial sustainability and places us in the best position to fully resume production upon the reinstatement of our licenses. We look forward to rehiring at that time." The savings from the temporary layoffs will depend on when it regains licences from Health Canada, CannTrust said. "CannTrust is confident that its remediation plan addresses all of the compliance issues identified by Health Canada," Mr. Marcovitch said.