Beyond Meat Inc. lowered its full-year sales outlook and said it will cut about a fifth of its global workforce, including several top executives, in the latest sign that demand for plant-based eating has cooled.
The company, which has been hit by production issues and rapid inflation tightening customers’ wallets, said it now sees net revenue of $400 million to $425 million. That’s down from previously lowered guidance of $470 million to $520 million.
