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Impossible Foods to Cut 6% of Workforce in Reorganization

  • New structure heightens focus on R&D, CEO says in memo
  • Company plans strategic hiring after making reductions

Impossible Foods Inc. is reorganizing its structure under new Chief Executive Officer Peter McGuinness, dismissing about 6% of its 800-person workforce as the maker of plant-based meats tries to position itself for faster growth. 

In a Thursday memo to employees seen by Bloomberg, McGuinness said the reorganization in the works for the past two months has “created clear supply-and-demand functions” and is focused on research and development, without providing more details.