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 the 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 and other factors — like increased competition and reduced demand in the plant-based meat category — as dragging on its business.
