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  • Beyond Meat Cuts Revenue Forecast, Jobs as Plant-Based Boom Fizzles Out

    08/04/2022 1:30:28 PM PDT · by Oldeconomybuyer · 59 replies
    Reuters via US News ^ | August 4, 2022 | by Praveen Paramasivam
    (Reuters) -Beyond Meat Inc lowered its forecast for 2022 revenue on Thursday and said it would cut several jobs at a time when demand for its plant-based products is fizzling out in the United States. Analysts have said alternative meat makers should improve their products' taste to attract consumers as a few restaurants including McDonald's Corp have ended U.S. tests of their plant-based menu items without confirming a broader launch. "The company is announcing a reduction-in-force affecting approximately 4% of its global workforce," Beyond Meat said in a statement.