Seattle-based online cannabis marketplace Leafly Holdings Inc. (Nasdaq: LFLY) is reducing its headcount by 56 employees, or 21% of its total workforce.
The reduced headcount, announced Tuesday, will come through both layoffs and natural attrition. Leafly said in a regulatory filing the reduction would finish by the end of the year.
A company spokesperson didn’t specify how many of the roles would be cut through layoffs versus attrition but said the company will have 206 employees remaining after the cuts.
“These reductions will help preserve our ability to respond to opportunities as this industry continues to mature and expand,” Yoko Miyashita, CEO of Leafly, said in a release. “In addition to cutting costs, we have taken a close look at our structure to ensure we are prioritizing the most meaningful parts of the business. I have a great amount of gratitude for each and every one of our team members who have helped build Leafly.”