According to The Business Insider, Leafly is planning to cut on
its expenditures in the coming days. The established cannabis authority website
is smashing its breaks on most of its hiring, limiting the not so important
employee travel packages and its annual holiday party.
Leafly is one of the most popular online cannabis companies
worth over $40 million, according to Worth of Web. The
company is in existence since 2010. It prides itself as the best online
authority for finding cannabis strains and dispensaries.
The Business Insider credits the information to an internal memo
from the company heads. The current Leafly CEO, Tim Leslie, attributes the
planned freezing as a measure to ensure that the expansion by the company over
the last seven months is working at its best.
Over the same period quoted in a memo, the CEO executive
appreciates that the company grew to nearly double its size. Over 150 new
employees were added to the company’s payroll. The new employees achieved the
company’s hiring goal for this year, which was set to be at 300 and fully
utilising the company’s T&E budget.
For a company that started nearly ten years ago with three
orange county web developers as a reputable hemp and marijuana strains
resource, one can only be amazed by its growth.
Over the last few days, a series of cannabis companies announced
planned layoffs that amount to 600 workers. However, the story takes a
different twist when it comes to Leafly. The company is only freezing the
hiring of new members to its ranks after achieving its expansion target early
enough.
Yes, you can safely say that the current slowdown in the
industry somehow backs the steps taken by Leafly after a period of spontaneous
growth. According to Laura Morarity, Leafly’s VP of corporate affairs, the move
is meant to prepare the company for 2020.
With the memo out in circulation, the company ‘s employment page
may not completely dry out. The company will still require a bunch of product
and engineering experts when the need arises.
