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The Flowr Corp Fires 40% Of Its Workforce And Agrees To Sell Non-Core Asset As Cost Saving Measures
The Flowr Corp Fires 40% Of Its Workforce And Agrees To Sell Non-Core Asset As Cost Saving Measures
The Flowr Corporation (OTCPK:FLWPF) (TSX.V:FLWR) completed a significant corporate headcount reduction resulting in over $4 million in cost savings per year as well as an agreement to sell a non-core asset for aggregate gross proceeds of $3.4 million.
Headcount Reduction
The company has completed a headcount reduction necessary in order to flatten its organizational structure and right-size SG&A with revenue. The company has eliminated 40% of its workforce, largely in senior and middle management, resulting in an anticipated annual savings of over $4m.
Agreement to Sell Flowr Forest
The company has entered into an agreement for the sale of 17 acres of agricultural property located adjacent to its primary facility known as "Flowr Forest" for aggregate gross proceeds of $3.4m. Flowr Forest is not core to the company's operations and the proceeds of the sale will provide the company with increased operating capital. Closing of the sale is anticipated for mid-August and is subject to certain conditions, including the completion of a satisfactory due diligence review by the purchaser.
Tom Flow, interim CEO of Flowr commented, "These cost cutting measures and sale of non-core assets are vital to getting the company to profitability. Flowr is a brand synonymous with quality and we continue to believe that our model to provide premium cannabis products to the market while reducing overall costs will lead to success."
Photo by Esteban Lopez on Unsplash
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The Flowr Corporation (OTCPK:FLWPF) (TSX.V:FLWR) completed a significant corporate headcount reduction resulting in over $4 million in cost savings per year as well as an agreement to sell a non-core asset for aggregate gross proceeds of $3.4 million.
The Flowr公司(OTCPK:FLWPF)(TSX.V:FLWR)完成了大幅的企業員工削減,帶來了超過4美元的收益百萬每年節省的成本以及一項協議出售非核心資產總計總收益為$3.4 百萬.
Headcount Reduction
裁員
The company has completed a headcount reduction necessary in order to flatten its organizational structure and right-size SG&A with revenue. The company has eliminated 40% of its workforce, largely in senior and middle management, resulting in an anticipated annual savings of over $4m.
該公司已經完成了必要的裁員,以實現組織結構扁平化,並實現收入合適的SG&A規模。該公司擁有裁員40%,主要是高級和中層管理人員,預計每年節省超過400萬美元。
Agreement to Sell Flowr Forest
出售Flowr森林的協議
The company has entered into an agreement for the sale of 17 acres of agricultural property located adjacent to its primary facility known as "Flowr Forest" for aggregate gross proceeds of $3.4m. Flowr Forest is not core to the company's operations and the proceeds of the sale will provide the company with increased operating capital. Closing of the sale is anticipated for mid-August and is subject to certain conditions, including the completion of a satisfactory due diligence review by the purchaser.
該公司已達成協議,將出售位於其主要設施“Flowr森林”附近的17英畝農業地產,總收益為340萬美元。Flowr森林不是該公司運營的核心,出售所得將為該公司提供更多的運營資本。出售預計於8月中旬完成,並受某些條件的限制,包括買家完成令人滿意的盡職審查。
Tom Flow, interim CEO of Flowr commented, "These cost cutting measures and sale of non-core assets are vital to getting the company to profitability. Flowr is a brand synonymous with quality and we continue to believe that our model to provide premium cannabis products to the market while reducing overall costs will lead to success."
TOM流,Flowr的臨時首席執行官評論道:“這些成本削減措施和出售非核心資產對於公司實現盈利至關重要。Flowr是一個質量的代名詞,我們仍然相信我們的模式將在向市場提供優質大麻產品的同時降低整體成本,從而取得成功。”
Photo by Esteban Lopez on Unsplash
Esteban Lopez在Unspash上的照片
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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