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).”
Published: October 22, 2019
Founder & Interim Editor of L.A. Cannabis News