Cannabis tech startup Flowhub has laid off about a dozen employees — or roughly 15% of its workforce, Insider has learned.
The layoffs, which occurred in June and early July, were concentrated on the operations side of the company, including employees that worked in sales, partnerships, and customer service, three former employees with knowledge of the layoffs told Insider. The employees requested anonymity to protect future job opportunities in a closely-knit industry.
The people told Insider the layoffs were a result of slowing legal cannabis sales in states like Colorado and California, the competitive environment for cannabis tech startups, and the challenging fundraising environment for tech startups more generally.
Flowhub confirmed the layoffs to Insider on Friday.
"In July, we restructured the business in light of our new product direction as well as the macro economy in order to ensure longevity as a market leader in the cannabis industry," Flowhub VP of Marketing, Anne Fleshman, said in an emailed statement. "It was a tough decision, but the reality of the current environment required us to re-examine...
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