Insa, a Massachusetts-based cannabis producer and retailer, has laid off an undisclosed number of employees in the past few weeks, citing increased competition coming in from out of state.
According to MassLive, Insa CEO Peter Gallagher told his company that the job cuts were necessary cost-saving measures to “align with the new market.”
“It was through this process that the difficult decision was made to eliminate various positions in the company,” he said, according to an email obtained by the publication. “We are providing support and resources to those who have been impacted by this decision to help with the transition.”
Massachusetts has seen its average price per gram of cannabis flower steadily decline for the past two years. The average retail price was hovering around $14 at the beginning of 2021 but is now down to $6.64 as of March 2023.