Friday, November 1, 2019
Leafly plans to limit non-essential spending in Q4 of the current financial year| hempforanxiety.com
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.