Marijuana Company Canopy Growth <br />to Lay off 500 Employees As far as market value, <br />Canopy is the biggest cannabis-based <br />business in the world. The downsizing is a result of two cultivation <br />facilities closing down in British Columbia. The sites represented over half of <br />the company's operations in Canada. The company will also slash <br />three million square feet of <br />greenhouses and halt plans <br />to open one in Ontario. In a statement, Canopy attributed the moves <br />to slow development of Canada's <br />recreational pot market. Canopy Growth, via statement Recreational marijuana is legal in Canada, <br />but many producers have not turned a <br />profit since it became official. This is due to the number of retail store <br />openings being less than expected, <br />which has led to oversupplying.
