07:50 AM EDT, 07/16/2024 (MT Newswires) -- SNDL ( SNDL ) said Tuesday that it plans cut 106 jobs in a restructuring intended to reduce costs.

The restructuring is expected to produce annual cost savings of more than $20 million, with most likely to be realized by mid-2025, the company said.

The cannabis company said the plan will require a one-time investment of $11 million over the next 18 months.

SNDL ( SNDL ) shares were nearly 1% higher in premarket trading.

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