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{"id":21282,"date":"2022-10-17T15:50:54","date_gmt":"2022-10-17T10:20:54","guid":{"rendered":"https:\/\/thecorporatemagazine.com\/?p=21282"},"modified":"2022-10-19T09:27:17","modified_gmt":"2022-10-19T03:57:17","slug":"beyond-meat-the-company-plans-to-cut-19-of-its-workforce","status":"publish","type":"post","link":"https:\/\/thecorporatemagazine.com\/beyond-meat-the-company-plans-to-cut-19-of-its-workforce\/","title":{"rendered":"Beyond Meat, the company plans to cut 19% of its workforce"},"content":{"rendered":"\t\t

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Beyond Meat, the firm plans to remove 19% of its workforce as sales and supply grind<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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October 17, 2022: -Beyond Meat company looks to slash 19% of its force or almost 200 employees, the company said on Friday in a filing.<\/p>
The removes are anticipated to be completed by this year’s end and are an effort to acquire cash flow-positive operations within the second half of 2023.<\/p>
Shares of the characters are down 77% this year as the company struggles with coming down sales. Earlier this week, the stock notched a 52-week low of $12.76 per share and was previously seen trading for about $15 per share, dragging the company’s market value to roughly $955 million.<\/p>
The announcement came as the group also announced its chief operating officer, Doug Ramsey, left the company weeks after he was arrested for allegedly biting a man’s nose and punching a Subaru in an Arkansas parking garage.<\/p>
As part of the job cuts, the head development officer role has been eliminated, and Deanna Jurgens, who held that role, will leave the company.<\/p>
The business said Chief Financial Officer Philip Hardin stepped down from his post. According to the filing, Hardin is leaving the company after a two-week transition period to pursue another opportunity.<\/p>
Lubi Kutua, Beyond Meat’s vice president for financial planning and analysis and investor relations, assumed the top economic role on Thursday.<\/p>
Beyond Meat did not respond to return a request for comment on the changes. In August, the company announced it was trimming its workforce by 4%.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t Next<\/span>Blasts swung Kyiv’s central district twice a week<\/span><\/span>