Beyond Meat is undertaking a second round of job cutting and trimmed its revenue expectations for the year as it cuts costs to offset a decline in sales.
FILE - Beyond Meat products are seen in a refrigerated case inside a grocery store in Mount Prospect, Ill., Saturday, Feb. 19, 2022. Beyond Meat is cutting about 200 jobs and lowering its full-year revenue outlook as the plant-based meat maker attempts to reduce expenses and become cash flow positive. The company said Friday, Oct. 14, the job cuts, which amount to approximately 19% of its total global workforce, will be mostly completed by the end of the year.
The company said Friday that 200 job cuts, which amount to approximately 19% of its total global workforce, will be mostly completed by the end of the year. It cited record inflation as well as increased competition and lower demand.
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