Waves of Major Layoffs, Furloughs, Closures

Intellizence tracks the latest layoff, downsizing, employee termination, furlough announcements from multiple news and regulatory filings. Following is the highlight of a few major layoffs of the week ending May 30, 2020. 

Some of the major layoffs announced during the week are –

Aurora Cannabis to lay off 700 staff, close five sites, take impairment charges (Source)

Canada-based leader in key global cannabinoid markets, Aurora Cannabis continues its restructuring and cost-cutting plan to meet its profitability struggles. Aurora is reducing its administrative, sales and general workforce by 25% and will layoff 30% production staff over the next two quarters that accounts to around 700 employees.

In addition to layoffs, Aurora is closing operations at five facilities — Aurora Mountain in Alberta, Aurora Prairie in Saskatchewan, Aurora Vie and Aurora Eau in Quebec, and Aurora Ridge in Ontario – over the next two quarters.

Nokia to Layoff 1233 Employees to Streamline its R&D Footprint (Source)

Nokia, the world’s leading mobile phone maker, is to layoff 1,233 employees at Alcatel-Lucent, its French subsidiary. Calling it a part of a wider restructuring of its research and development footprint, the jobs will impact employees at its Lannion and Paris-Saclay sites in France.