Dutchie, the cannabis-based software program agency that raised $350 million final yr, has laid off 8% of its workforce in a restructuring, in response to a GeekWire report. The corporate cited a “dramatic market shift” as the rationale for the layoffs.
In a press release, CEO and co-founder Ross Lipson stated the agency “took time as a group to rigorously assume by way of our enterprise plans to make sure [it is] set as much as fulfill [its] mission.”
“Final week, we gathered our complete group collectively to speak an vital and troublesome resolution to restructure just a few areas of the enterprise. This resolution impacts roughly 8% of the corporate’s general workforce. We’re perpetually grateful for everybody’s contributions to Dutchie and the hashish trade that have been impacted.” — Lipson, in a press release, by way of GeekWire
Lipson added that the corporate “is in a robust place” and “centered on continued progress.”
“We are going to proceed to rent high expertise and pursue progress alternatives that map to our enterprise targets so as to advance our mission to supply protected and quick access to hashish whereas serving to to drive the hashish trade ahead,” he stated within the assertion.
Dutchie, based mostly in Bend, Oregon, was valued at $3.75 billion when it raised $350 million in a Sequence D spherical final October, which got here simply seven months after the agency raised $200 million. Earlier this yr, Dutchie acquired Greenbits and LeafLogix.
In a Business Journal survey of Oregon’s largest hemp and hashish companies final yr, Dutchie reported 718 whole staff, with 129 in Oregon, suggesting the variety of cuts is round 60.
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