Beyond Meat cuts annual revenue forecast
The company is reviewing its China operations
5 November 2023
1 minute read
By: Beyond Meat cut its annual revenue forecast for the second time this year as consumers curtail spending on its pricier plant-based products and announced new job cuts and a review of global operations as part of a cost-reduction plan, reported Reuters.
Shares rose about 6% in early trading as the company projected about $9.5 million to $10.5 million in cash operating savings for 2024, mainly from laying off about 65 employees, or about 19% of global non-production workforce.
