Beyond Meat is laying off 6% of its workforce, or about 44 employees, to cut costs, according to Food Dive.
The company is also suspending operations in China, eliminating 20 jobs, or 95% of its local workforce. Beyond Meat reported that net revenue in 2024 fell 4.9% to $326.5 million, with projected revenue between $320 million and $335 million. However, Beyond Meat reported some gains in the fourth quarter, showing net revenue rose 4% to $76.7 million and gross profit was 13.1% compared to a loss of 113.8% last year.
