Dutchie, the cannabis-based software firm that raised $350 million last year, has laid off 8% of its workforce in a restructuring, according to a GeekWire report. The company cited a “dramatic market shift” as the reason for the layoffs.
In a statement, CEO and co-founder Ross Lipson said the firm “took time as a team to carefully think through our business plans to ensure [it is] set up to fulfill [its] mission.”
“Last week, we gathered our entire team together to communicate an important and difficult decision to restructure a few areas of the business. This decision impacts approximately 8% of the company’s overall workforce. We are forever grateful for everyone’s contributions to Dutchie and the cannabis industry that were impacted.” — Lipson, in a statement, via GeekWire
Lipson added that the company “is in a strong position” and “focused on continued growth.”
“We will continue to hire top talent and pursue growth opportunities that map to our business objectives in order to advance our mission to provide safe and easy access to cannabis while helping to drive the cannabis industry forward,” he said in the statement.
Dutchie, based in Bend, Oregon, was valued at $3.75 billion when it raised $350 million in a Series D round last October, which came just seven months after the firm raised $200 million. Earlier this year, Dutchie acquired Greenbits and LeafLogix.
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