Massachusetts cannabis cultivator, retailer Insa laying off workers

April 14, 2023 · MJ Biz Daily

Massachusetts-based cannabis cultivation and retail company Insa laid off an undisclosed number of workers in the past few months.

The downsizing was a result of increased competition from “out-of-state” companies in the Massachusetts marijuana market, Insa CEO Peter Gallagher told MassLive.com via email.

“To address these new challenges, we have been focused on implementing important cost-saving measures to align with the new market,” Gallagher said.

“It was through this process that the difficult decision was made to eliminate various positions in the company.”

Insa did not immediately respond to an MJBizDaily request seeking more details about the layoffs.

The company, headquartered in the Springfield suburb of Easthampton, also operates in Florida and Pennsylvania.

An Insa store is scheduled to open soon in Ohio, and the company is licensed in Connecticut.

Cannabis retailers in Massachusetts have sold more than $4 billion in products since the adult-use program launched in 2018.

However, wholesale marijuana prices in the state have plummeted in recent months, dropping by up to 50%, because of oversaturation.

Layoffs have become widespread in the U.S. cannabis industry because of wholesale price compression, high interest rates, inflation and the illicit market.

Jobs in the marijuana industry declined by 2% in 2022, according to a recent report by Denver-based cannabis recruitment platform Vangst. (Full Story)

In category:Business
Next Post

Canopy Growth Reaches Deal On C$100 Of Debt

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that it has entered into an exchange agreement with Greenstar Canada Investment Limited Partnership, a wholly-owned subsidiary of Constellation Brands, Inc., in order to extinguish C$100 million (approximately USD$73.9 million) aggregate principal amount of the company’s…
Read
Previous Post

Washington Lawmakers Set To Enact Interstate Marijuana Sales Bill

Lawmakers in Washington State are on the cusp of passing legislation that would set the stage for licensed marijuana businesses to be able to engage in cross-border commerce with cannabis companies in other legal states. The state’s House of Representatives…
Read
Random Post

Washington Lawmakers Pass Bill With Hiring Protections for Cannabis Consumers

Washington state lawmakers have approved a measure that prohibits denying an individual a job due to their off-the-clock cannabis use, the Washington State Journal reports. The measure still requires reconciliation as the House version excludes safety-sensitive positions – such as first responders or…
Read
Random Post

High times: How Texas stumbled into a legal cannabis market and what it could mean for pot

Walk into a gas station or smoke shop and you’ll see them on the shelf, packaged in colorful boxes with flavors like fruity pebbles, magic mango and grape ape gusher. Like marijuana, these cannabis-based products deliver a high. But unlike marijuana, these…
Read
Random Post

Cannabis delivery, relaxed distribution rules get Henderson council’s approval

The Henderson City Council on Tuesday approved new rules to relax limitations on cannabis dispensaries within the city, including allowing delivery service. The new bill strikes a previous colocation requirement and limits the amount of cannabis sales facilities to no…
Read
Random Post

MP says cannabis helps reduce Yaba addicts in Bangkok

Bhumjaithai Party MP Suphachai Jaismut believes the legalising of cannabis has led to a decrease in the use of methamphetamine (also known as Yaba) in Bangkok. Suphachai posted on Facebook yesterday that, “Ganja comes, Yaba goes away.” The Bhumjaithai Party MP admitted that he never expected legalising cannabis…
Read