NEW YORK — Beyond Meat is cutting its workforce by 200 employees, and its chief operating officer is leaving the company, according to an SEC filing Friday.
For the second time this year, the plant-based meat company is cutting its workforce again, this time by almost 20%. According to Bloomberg, the company has to lower expenses as inflation forces consumers to consider less-expensive protein options.
Plant-based burger maker Beyond Meat is conducting further layoffs following a round of cuts made in August, sources say https://t.co/apq0ibALmW
— Bloomberg (@business) October 13, 2022
In August, the company cut its workforce by 4%, citing “broader economic uncertainty,” according to CNBC.
Top exec steps down
Beyond Meat Chief Operating Officer Doug Ramsey will leave the company on Friday following his recent arrest in September, according to Friday’s filing.
Ramsey was arrested last month following an incident after an Arkansas football game, according to KNWA.
According to a police report obtained by The Associated Press, Ramsey became angry with another driver near a parking garage. Police said that Ramsey got out of the car and punched the rear windshield of the other driver’s car. The alleged victim said when he got out of the vehicle, Ramsey began punching him and then bit the top of his nose, ripping the flesh, the AP reported.
According to online records, he was later charged with terroristic threatening and third-degree battery.
Ramsey had previously worked for Tyson Foods and McDonald’s before joining the company in December, CNBC reported.
Jonathan Nelson, who was already overseeing Ramsey’s role following his suspension, will take over the position, according to CNN.
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