You have to have the expense to then realize the saving.If Hexo had all 180 employees on staff for the entrie year of 2021, the annual payroll expense would be approx. $7.5 million - assuming every position was filled and every employee worked every single day.
As everyone is aware, Hexo has announced the layoff of those 180 positions.
Hexo does not REALIZE a 'savings' - or reduction in annual salary expense for 2022 - because they never had those employees for the full year in 2021.
hEXO IS NOT LYING, BUT IT'S A SIMPLE PAPER NUMBER TO PLEASE NAIVE AND UNSOPHISTICATED INVESTORS.
How do you save $7.5 million in salary expense from the previous year - when you never spent $7.5 million? Better yet - how do you save $15 million?
The correct statement would be that if they had NOT eliminated tehse positions, then 2022 wage expense would be $7.5 million, but again - there's no actual savings.
The better question is that if they had not spent $ 1.5 BILLION on 4 companies - they would have SAVED $1.5 BILLION. All they did was spend the money and close facilities - how in the world do you piumptards think there are cost saving synergies.
Keeler Broadcasting "The Truth"