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0 0.00155520995334367 0.00155520995334367 -0.00155520995334367 0.0126905132192846 0.00155520995334367 0.00311041990668734 0.00155520995334367
Stock impact report

Beyond Meat cutting 6% of workforce to reduce expenses [Yahoo! Finance]

Beyond Meat, Inc. - Common stock (BYND) 
Last beyond meat, inc. - common stock earnings: 2/27 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Beyond Meat is laying off 6% of its workforce , or about 44 employees, as the company aims to reduce costs. The plant-based meat company also is suspending operations in China, which will eliminate about 20 jobs (95% of its local workforce) in the country. The move to cut expenses and improve Beyond Meat's financial picture comes as the plant-based meat sector has seen demand slow, forcing companies to shrink their workforce and abandon the development of some products. Dive Insight: Beyond Meat's decision to reduce its staff and halt operations in China marks the latest step by a plant-based company to bring expenses in line with slumping demand. Plant-based foods have been plagued by high prices compared to traditional meat, as well as concerns over its use of highly processed ingredients and critiques of unsatisfying taste and texture. Sales of meat alternatives fell 9% to $1.1 billion in 2023, marking the category's third straight year of declines, according to a Circ Show less Read more
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