Colorado CBD producer Mile High Labs lays off 20 employees just months after major expansion
CBDHempMarijuana Business, Stocks, Finance, & Investing January 27, 2020 MJ Shareholders 0
Mile High Labs, one of Colorado’s leading CBD producers, laid off employees this week, just months after undergoing a major expansion.
According to chief financial officer Jon Hilley, the company cut 20 positions — less than 10% of its workforce — on Thursday. They primarily were those in entry-level sales jobs. Mile High Labs employed more than 250 people before the layoff, Hilley said.
The news comes about three months after the company moved from Boulder into an $18.8 million, 400,000-square-foot facility in Broomfield, where it extracts and processes hemp-derived cannabidiol, or CBD. Hemp has negligible amounts of THC, the ingredient that gives the plant’s cousin marijuana its high.
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