Business Jobs News

Pax Labs Cuts 25% of Workers After Missing Revenue Projections

California-based Pax Labs, one of the leading vape pen companies in the cannabis industry, disclosed Monday it laid off 65 workers, or 25% of its workforce, after missing its revenue projections.

The layoffs come amid a health crisis that has shaken the vaporizing industry.

The San Francisco company – which originally had ties to the Juul e-cigarette before that product was spun off as a separate company – declined to directly link the vaping health crisis to the layoffs, saying only that its sales had fallen short of expectations.

In an emailed statement to Marijuana Business Daily, Pax spokeswoman Dianne Gleason said: “In light of evolving business priorities, we have made the difficult decision to part ways with 65 members of our team, or 25% of the organization, effective (Monday).”

To Read The Rest Of This Article By Bart Schaneman on Marijuana Business Daily

Published: October 22, 2019

SHARE
RELATED POSTS
Palm Desert Voters Will Say Yes or No to Cannabis Businesses, and Elect Two Members of the City Council
MedMen to acquire PharmaCann in all-stock transaction valued at US$682 million
New City Task Force Cracks Down on Illegal Cannabis

Leave Your Reply

*