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Beyond Meat Cuts Guidance, Staff as Inflation Weighs on Demand

  • Several top executives, including CFO and COO, are leaving
  • Faux burger maker reduced its sales view for the year again
Updated on

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.