Marijuana tech firm Dutchie lays off 67 employees, citing ‘dramatic market shift’

Oregon-based marijuana tech company Dutchie laid off 67 employees this week, about 8% of its 700 workers.

Dutchie CEO and co-founder Ross Lipson wrote in a statement to GeekWire that a “dramatic market shift” led management to cut costs in the face of economic uncertainty.

“This decision impacts approximately 8% of the company’s overall workforce,” Lipson told the news site.

Various LinkedIn posts by former Dutchie employees reported a total of 67 layoffs at the company, which serves roughly 5,000 marijuana retail shops across the U.S. with e-commerce solutions and payment processing.

Dutchie, headquartered in Bend, was valued at $3.75 billion last October after a $350 million funding round.

But it’s the latest cannabis tech company to downsize after assessing economic headwinds.

MJBizDaily Indoor Cultivation Buyers Guide – Now available!

Master the complexities of growing cannabis indoors with fundamental tips and guidance from experienced cultivation professionals.

Featured inside:

  • Best practices in cultivation facility design
  • Tips for mapping out a climate control system and purchasing components
  • Indoor cultivation buyers guide checklist
  • And more!

California-based Eaze laid off upwards of 25 in the past week, Business Insider reported; Denver-headquartered Akerna slashed 59 positions in May.

Layoffs are a signal that marijuana continues to be an ever-emerging modern industry, including some of the pitfalls of mainstream businesses.