Strategy shift and profitability at Infarm

Please find below the email sent to all Infarm employees on November 28, 2022 from Erez Galonska, co-founder and CEO, Osnat Michaeli, co-founder and Chief Brand Officer, and Guy Galonska, co-founder and CTO at Infarm:

Dear Infarmers,

over the past weeks we have worked to determine the path forward for Infarm through the challenging business environment that we are currently facing. In the Global Business Update earlier today, I announced the difficult decisions that we need to take.

In our current setup, we recognise that Infarm cannot withstand the challenging market conditions, particularly with regards to escalating energy prices and tough financial markets. We have to adapt our ambitious growth targets and increase our efficiencies to make our business profitable, and continue the pursuit of our long-term mission.

Impacted colleagues

For colleagues whose roles are potentially impacted by the change, you’ll be invited to a conversation with your manager today. For colleagues who will remain at Infarm, your manager or department leader will invite you to a meeting to provide more context and answer any questions you may have.

Reasons for the changes

Recently, some critical market factors have worsened, these directly affect our industry and our operations. Energy prices have escalated (doubled across Europe), which puts a lot of additional pressure on our business and seriously impacts our cost of production in affected markets. This is in addition to inflation, supply chain disruptions and rising material costs. Economically, this is a difficult period across the globe and many people and businesses are impacted.

Continue reading.

Courtesy of Infarm

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