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Parallel Cuts Jobs Amid Restructuring | Raleigh News
Parallel, a major cannabis company operating Florida’s Surterra Wellness chain, is shutting down two key facilities and laying off 211 workers amid a sweeping financial restructuring. The layoffs began July 6, with employees receiving full pay and benefits through the end of their shifts. As part of a 2023 foreclosure agreement, creditors may soon take control of Parallel’s assets to cover mounting debt — a move already approved by Florida’s Department of Health. Despite the cannabis industry’s booming $100B+ global market and strong North American demand, companies like Parallel face intense…
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