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PAX Labs Lays Off 25% Of Workforce, Says 2020 IPO Planning Was ‘Premature’

PAX Labs, a cannabis-focused vaping company with over $541.7 million in venture-backed funding has laid off 25 percent of its workforce, months after losing its long time CEO, Bharat Vasan.

Gleason additionally said that the layoffs were “not confined to specific teams.”

Additionally, PAX Labs spinout Juul, another popular yet controversial vaping company, lost its chief executive, Kevin Burns, in the same month.

As vaping comes under international scrutiny, PAX Labs is down a CEO, and now a portion of its staff.

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