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Market Wrap: C$75 Million in Pot Destroyed by CannTrust, Uber Layoffs

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Uber (UBER) - Get Uber Technologies, Inc. Report  will off about 350 employees, the company said in a letter to employees that was obtained by CNBC.

The layoff announcement Monday affects the company's self-driving and eats divisions, among others.

The letter from CEO Dara Khosrowshahi comes about four weeks after the company announced that it was laying off 435 employees across its engineering and product teams. The company said that this is the "last wave" of a process to streamline the company's operations.

Shares of CannTrust (CTST) - Get CannTrust Holdings, Inc. Report  jumped Monday after the cannabis company announced it would destroy about $12 million of biological assets and another $65 million in inventory that it wasn't authorized to produce.

The move is designed to help the company win regulatory approval that was suspended by Health Canada on Sept 17. The company said at the time that it would not appeal the suspension but would rather work to implement the changes needed to gain approval.

The company said Monday that it will take measures to "ensure that cannabis will be produced and distributed only as authorized ... recover cannabis that was not authorized."

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