Beyond Meat is cutting 4% of its global workforce, saying the layoffs are part of its plan to reduce costs as inflation prompts consumers to buy less-expensive protein.
The California-based company, which has the ambition to eventually sell its vegan burgers and other products at the same price of meat, said Thursday that progress was taking longer than expected. Chief Executive Ethan Brown said inflation has magnified the importance of meeting that goal.
Source: https://www.wsj.com/articles/beyond-meat-plans-to-lay-off-4-of-global-workforce-11659654564?siteid=yhoof2&yptr=yahoo