Beyond Meat Cuts Revenue View, Jobs as Inflation Hits Plant Protein Demand

Beyond Meat on Friday cut its annual revenue forecast for the second time due to slowing demand for faux meat as consumers look for cheaper options to beat rising prices and announced jobs cuts as well as executive departures.

The plant-based meat producer plans to cut 200 jobs this year and said its finance chief Philip Hardin, who has been in the role for just over a year, will leave at the end of the month. It named board director Lubi Kutua as his replacement.

Beyond Meat said its operation head Doug Ramsey has left the company, weeks he was suspended on reports of his arrest for allegedly biting a man’s nose during an altercation.

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