July 3, 2020 / 12:31 PM / a month ago

BRIEF-OrganiGram Says Reduced Workforce By About 25%

July 3 (Reuters) - OrganiGram Holdings Inc:

* ORGANIGRAM PROVIDES UPDATE ON COVID-19 CORPORATE ACTION PLAN AND TIMING FOR Q3 RESULTS

* ORGANIGRAM HOLDINGS INC - ORGANIGRAM HAS REDUCED ITS WORKFORCE BY APPROXIMATELY 25%

* ORGANIGRAM HOLDINGS INC - DECISION WILL AFFECT APPROXIMATELY 220 EMPLOYEES INCLUDING A SMALL NUMBER WHO ARE NOT ON TEMPORARY LAYOFF

* ORGANIGRAM - FOR FORESEEABLE FUTURE CO TO CONTINUE TO CULTIVATE LESS THAN TARGET PRODUCTION CAPACITY OF CANNABIS ITS MONCTON CAMPUS WAS ORIGINALLY DESIGNED FOR

* ORGANIGRAM HOLDINGS INC - EXPECTS TO REPORT DECLINE IN NET REVENUE FOR FISCAL Q3 2020 VERSUS FISCAL Q2 2020

* ORGANIGRAM HOLDINGS INC - ALSO EXPECTS TO REPORT A DECREASE IN SELLING, GENERAL & ADMINISTRATIVE (SG&A) EXPENSES FOR FISCAL Q3 2020 Source text for Eikon: Further company coverage:

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