Editor’s note: This is a developing story and was most recently updated at 1:00 ET on 10/28/26. If you have tips about what’s going on at Tilray Brands, please get in touch by emailing me ([email protected]) or texting me on Signal (dinfontay.11). Anonymity available.—Dave.

At Tilray Brands, the stock price is down and the carving knife is out again. Layoffs were announced this morning across the portfolio of the transatlantic vice firm, Fingers has learned.

“That 70% stock dip has people panicking,” a current Tilray employee told me via text, referring to the year-to-date decline in share price.

Just a day before the company officially warned employees about this latest round of pink slips, a blogger posted an item to the popular markets platform Motley Fool noting that over the past five years, the company “has lost a whopping 97% of its value.”

“[S]treamlining our U.S. beer business and our broader portfolio is a key focus of our strategy to drive greater production and operational efficiencies,” Tilray’s chief corporate affairs officer Berrin Noorata told Fingers in a statement emailed shortly after publication. “Tilray has completed multiple acquisitions, and we continue to integrate those businesses, including facilities and organizational structures, to create more efficient and focused operations. Like most companies in our industries, we continuously focus on improving profitability and efficiencies to offset inflation and higher input costs.”

“These efforts have been planned for some time and are independent of Tilray’s stock price volatility,” she added.