According to Bloomberg, Impossible Foods Inc. plans to reduce its staff by 20%.
The Redwood City, CA, based company currently employs 700 people after cutting its workforce by 6% in October 2022. Impossible Foods Inc. reported sales were up more than 50% in 2022.
Bloomberg reported supermarket sales of plant-based meat slid by 15% by volume in 2022, according to data from research firm Information Resources Inc.
In October, Beyond Meat, Inc., said it was laying off 19% of its workforce and lowering its fiscal 2022 sales outlook.
