Brief: MedMen Announces Layoffs And Overall Plan To Achieve Positive EBITDA

Medmen Enterprises

15/11/2019 21:09

Nov 15 (Reuters) - Medmen Enterprises Inc  MMEN.CD :
    * MEDMEN ANNOUNCES LAYOFFS AND OVERALL PLAN TO ACHIEVE
POSITIVE
EBITDA
    * MEDMEN ENTERPRISES INC - COMPANY WILL BE PROVIDING LAYOFF
NOTICES TO OVER 190 EMPLOYEES, INCLUDING OVER 80 CORPORATE
EMPLOYEES
    * MEDMEN ENTERPRISES INC - REDUCTIONS AND COST
RATIONALIZATIONS
AIMED AT BRINGING CORPORATE SG&A TO $85 MILLION ON AN ANNUALIZED
BASIS
    * MEDMEN ENTERPRISES INC - ANNOUNCES SALE OF CERTAIN
NON-CORE
ASSETS FOR TOTAL AGGREGATE PROCEEDS OF $22 MILLION
    * MEDMEN ENTERPRISES INC - EXPECTS TO GENERATE ABOUT $10
MILLION
IN ESTIMATED ANNUAL SAVINGS THROUGH INITIAL HEADCOUNT REDUCTION

Source text for Eikon:  ID:nBw3sc3Zca 
Further company coverage:  MMEN.CD 

 ((Reuters.Briefs@thomsonreuters.com;))