New York-based cannabis tech company LeafLink laid off 80 employees this week, or roughly 29% of its staff, according to MJBizDaily.
“Unfortunately, as the cannabis industry continues to face headwinds and the current macroeconomic environment, we needed to take the next step in our evolution to continue supporting the industry,” a LeafLink spokesperson told MJBizDaily.
LeafLink is far from the only company in the marijuana trade to cut staff in recent months. The trend began earlier this year and has snowballed as the broader economy has tightened, with consumers cutting spending and many companies chopping headcounts as either a precautionary measure or in direct response to falling revenues.
Massachusetts-based Curaleaf laid off 220 employees in November, California-based Weedmaps laid off a quarter of its staff earlier this month, and Florida-based Trulieve laid off several employees last month.
Even that list is just a portion of the layoffs: