Massachusetts Hashish Enterprise Insa Lays Off Employees, Citing Competitors – NBC Boston

This story first appeared on MassLive.com.

Marijuana grower and retailer Insa has laid off employees in latest weeks, citing quite a few challenges from out-of-state competitors that didn’t exist months earlier than, based on Peter Gallagher, CEO and co-founder.

“To deal with these new challenges, now we have been centered on implementing vital cost-saving measures to align with the brand new market. It was by means of this course of that the tough resolution was made to remove numerous positions within the firm,” Gallagher wrote in an emailed response to questions. “We’re offering assist and sources to those that have been impacted by this resolution to assist with the transition.”

It’s an extra signal that the excitement is carrying off the state’s hashish business, the place the worth for an oz of flower now averages $188, based on the Massachusetts Hashish Management Fee. That’s down from $321 an oz a 12 months in the past and $403 in March 2021.

Extra on this story from Boston Enterprise Journal