Tilray Inc (NASDAQ:TLRY) has communicated several of the changes it is making to several financial news outlets. The business guru made its statement via email after the close of the market on Tuesday.
This cannabis producer lay off about
10% of its workers in a bid to cut down on its operational costs. This global
restructuring effort is being looked at as a way for the company to ease the
tension among its shareholders. The investors in the company have been closely
monitoring its performance, with some expressing satisfaction with the turn of
The cutting down of the company’s
workforce is one of the many moves the company will be resorting to in a bid to
November was an important month that
considering that it was the point the shareholders learned about the company’s
operating costs for 2019. Such instances have always been important for
investors who decide about the best time to make investments.
Shareholders and the concerned parties
aware of the company’s moves have shown mixed reactions. There is a section
that sides with the company saying that the decision was necessary. However,
there is the second lot that belives the company should have resorted to
something other than terminating the services of the dedicated workers.
Tilray has been quick to defend its
decision outlining that it was in the best interest of the company and the
shareholders. According to it, there were always times that called for the
making of some difficult choices and that this was one of those moments.
Analysts following closely on the
matter have also aired out their views. They take the strong stand that the
business guru was trying its best to soften the landing, and that is in line
with the earnings reports.
The earnings were not impressive for
the company, and that is the reason it took a drastic measure. Most of the
analysts are not in support of the decision that led to about 140 employees
losing their employment. They think that it paints the company in a bad light
and believes there were better alternatives that the company should have looked
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Published at Fri, 07 Feb 2020 13:13:00 +0000