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889900on Mar 23, 2020 1:21pm
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RE:Green Growth Brands Terminates Nearly Entire Staff
RE:Green Growth Brands Terminates Nearly Entire Staff
Green Growth Brands Finds Money To Pay Its Laid Off Workers
Editors Note: This story was updated on March 23, 2020.
Since this story was published on Friday, March 20, 2020, Green Growth Brands informed its laid-off workers that they would get paid. A spokesman for the company said, “At the time of the decision, the company remained uncertain of its ability to fund the payroll for the period ending today, March 20, 2020. As of this writing, I can confirm that such funding has been secured, that payroll has been initiated, and that all associates released will be paid for their time worked.”
The spokesman also confirmed that Horvath resigned voluntarily and would receive no severance pay. According to the company’s Management Information Circular, “If Mr. Horvath had been terminated by the Company without cause or had resigned from the Company for good reason as at June 30, 2019, Mr. Horvath would have been entitled to a payment of $2,550,000.”
JLUTZ1 wrote: Last Thursday, cannabis and CBD retailer Green Growth Brands issued a news release, which focused on the news that CEO Peter Horvath would be stepping down from his role with the company, both as a director and as an executive. Near the end of the release, the company also identified that its CBD business unit will be closing down temporarily as a result of the ongoing coronavirus pandemic.