As part of its third-quarter cost-saving plans, Aurora Cannabis announced on Thursday that it will close its Aurora Sky facility in Edmonton.
“We will continue to hire a talented team in Alberta, run an office in Edmonton and remain committed to our business in Canada as a whole,” Aurora Cannabis Vice President of Communications Michelle Lefler told Global News in an email.
“This decision was not taken lightly. The company continues to make difficult but responsible changes to optimize our business to meet the challenges and opportunities of the cannabis industry and to position Aurora for long-term global success.
“Our patients and consumers in Alberta can continue to rely on Aurora as a trusted cannabis supplier,” Lefler wrote.
Aurora Sky facility at Aurora Cannabis in Edmonton, May 12, 2022 Global News
“Aurora’s roots will always be in Alberta. We are grateful to all Alberts for their continued support of our business. Most importantly, we want to acknowledge the hard work of our employees and thank them for their contributions.
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“During this transition, we are committed to supporting all employees affected by this decision and will provide a full range of resources to help them.”
Read more: Aurora Cannabis calls Edmonton home with its world headquarters
Aurora Cannabis established its headquarters in Edmonton in 2018.
The Edmonton-based company announced job cuts in December 2020. The workforce at Aurora Sky near Edmonton International Airport, one of the world’s largest cannabis facilities, was reduced by 75 percent. This means that 214 workers lost their jobs at that time.
2:00 Aurora Cannabis will close a facility south of Edmonton Aurora Cannabis will close a facility south of Edmonton – September 22, 2021
In September 2021, the company announced that it was closing its Aurora Polaris property in Edmonton as part of a plan to streamline its operations.
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Read more: Aurora Cannabis reduces workforce at the facility in the Edmonton area
On Thursday, Aurora Cannabis outlined plans to save an additional $ 70- $ 90 million by the end of H1 fiscal 2023.
His efforts to save on goods sold “now include the closure of the Aurora Sky facility in Edmonton (previously announced to operate at approximately 25 percent capacity), in line with our diversified business portfolio, prudent approach to capital allocation and our strategy. in the Canadian market for adult use to focus on higher-margin categories, ”the company said in a statement.
1:35 Aurora Cannabis cuts part of the ‘sizing’ industry: analyst Aurora Cannabis cuts part of the ‘sizing’ industry: analyst – 23 June 2020
The fiscal update showed that Aurora Cannabis’ net medical cannabis revenue increased eight percent from a year earlier. This revenue growth is due to the international medical cannabis business, the company said.
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Its net cannabis revenue for consumers fell to $ 10.3 million from $ 14.4 million in the previous quarter, mainly due to “price pressures across the industry in our portfolio and exacerbated by the closure of retail stores in key provinces.” .
“In the third quarter, we continued to focus on our global medical cannabis business because it is both protected and stable, with a gross margin of over 60 percent,” CEO Miguel Martin said in a statement to Aurora on Thursday.
“With regard to the Canadian market for adult use, we continue to adapt to current conditions, are excited about future contributions from the Thrive team, and are committed to a continuous stream of innovation, including advancing our premium strategy.”
Read more: Edmonton-based Aurora Cannabis cuts staff, closes 5 Canadian sites
In November 2020, Aurora Cannabis announced that it was suspending operations indefinitely at its Aurora Sun property in Medicine Hat, a decision that would lead to about 30 layoffs.
In June of that year, the company laid off 700 workers and announced plans to shut down five sites in Saskatchewan, Ontario, Alberta and Quebec.
1:45 Backstage tour of Aurora Sky Backstage tour of Aurora Sky – October 9, 2018
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