Canada-based weed producer Tilray Inc. TLRY, -3.72% said late Tuesday that it was restructuring the company, which included laying off roughly 10% of its staff. Tilray stock closed up 5.2% during the regular session Tuesday. A spokeswoman said the company has 1,443 employees. "By reducing headcount and cost, Tilray will be better positioned to achieve profitability and be one of the clear winners in the cannabis industry, which will drive value for our investor and employee shareholders," Chief Executive Brendan Kennedy said in a statement. Tilray stock has lost 78% of its value in the past year, as the S&P 500 index SPX, -0.84% gained 21%.