California-based Pax Labs, one of the leading vape pen companies in the cannabis industry, disclosed Monday it laid off 65 workers, or 25% of its workforce, after missing its revenue projections.
The layoffs come amid a health crisis that has shaken the vaporizing industry.
The San Francisco company – which originally had ties to the Juul e-cigarette before that product was spun off as a separate company – declined to directly link the vaping health crisis to the layoffs, saying only that its sales had fallen short of expectations.
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In an emailed statement to Marijuana Business Daily, Pax spokeswoman Dianne Gleason said: “In light of evolving business priorities, we have made the difficult decision to part ways with 65 members of our team, or 25% of the organization, effective (Monday).”