Wayland Group just revealed it's shedding workers as the Canadian cannabis firm restructures amid an industry shakeout

• Wayland Group, an Ontario-based cannabis company, said it had 26 departures in December in multiple departments. The company revealed the exits in its monthly progress report, released on January 7.
• The departures come after a difficult year for Wayland Group and other cannabis companies who have faced a downturn in the sector in recent months
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A Canadian cannabis company just revealed that it's losing workers, as it pursues a restructuring in the troubled industry.

Wayland Group said it lost 26 workers in December in areas including operations, quality assurance, engineering, human resources, finance, and IT departments. It's not clear if the departures were voluntary, and the company didn't respond to requests for comment from Business Insider.

The announcement comes after a difficult year for the company, which grows and processes cannabis. The company has seen a steep decline in its stock prices over the past few months, and said in December it was seeking protection from creditors to pursue a restructuring. The company got court approval for financing to help in the process.

In the January report, the company said it was "primarily focused on existing business relationships and strengthening the operations team."

Business Insider has previously reported that other cannabis companies, from startups to public companies, have cut over 1,000 jobs in the cannabis industry as of late 2019. The Marijuana Index, a composite of cannabis and cannabis-related stocks in the US and Canada, has lost more than 50% of its value over the past 12 months.

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