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Salary increases for Aurora executives despite losses

(Edmonton) Aurora Cannabis has paid millions of dollars in compensation and salary increases to its executives, even though it has laid off at least 1,000 employees, in addition to reporting billions of dollars in losses.

Posted Oct 2, 2020 at 12:28 PM

The Canadian Press

The circular to shareholders of the Edmonton-based company, recently filed with regulatory authorities, reveals that former CEO Terry Both was entitled to a total consideration of $ 4.8 million during the previous fiscal year, compared to 2.4 million last year.

Executive Chairman and former Interim CEO Michael Signer was entitled to a salary of 2.8 million, an increase of approximately $ 700,000.

Aurora recently disclosed that it had incurred $ 3.3 billion in losses in fiscal 2020, of which $ 1.86 billion in the last quarter was due to high depreciation charges. Aurora has also gone through several layoffs, in addition to closing several manufacturing plants as part of the restructuring.

Written by Rahis

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