{"id":2091275,"date":"2023-11-05T18:13:02","date_gmt":"2023-11-05T23:13:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-cuts-non-production-workforce-by-19-percent-with-demand-for-plant-based-meat-weak\/"},"modified":"2023-11-05T18:16:15","modified_gmt":"2023-11-05T23:16:15","slug":"beyond-meat-cuts-non-production-workforce-by-19-percent-with-demand-for-plant-based-meat-weak","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-cuts-non-production-workforce-by-19-percent-with-demand-for-plant-based-meat-weak\/","title":{"rendered":"Beyond Meat reduces non-production workforce by 19% due to low demand for plant-based meat."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbeyond-meat-cuts-non-production-workforce-by-19-percent-with-demand-for-plant-based-meat-weak%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2091275&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Beyond Meat to Cut Workforce and Consider Changes Amid Weaker-Than-Expected Quarter<\/h2>\n<p>Beyond Meat, the \u2064<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/plant-based-meat-company-beyond-meat-to-lay-off-19-of-its-workforce-due-to-declining-sales\/\" title=\"Plant-Based Meat Company \"Beyond Meat\" to Lay Off 19% of Its Workforce Due to Declining Sales\">plant-based meat company<\/a>, is taking action after a disappointing third quarter \u2062by reducing its non-production workforce by 19 percent. This decision, which affects approximately 65 employees, is part\u2063 of a larger corporate\u2062 review that includes considering product line exits, pricing adjustments, manufacturing shifts, and restructuring of Chinese \u200coperations.<\/p>\n<p>The news of the workforce \u2064reduction \u2062coincided\u200b with \u2063a 20 percent increase in Beyond \u200bMeat&#8217;s shares during Thursday&#8217;s afternoon trading.<\/p>\n<p>&#8220;We anticipated a modest return to growth\u2062 in the \u200cthird quarter of 2023 that did not occur,&#8221; said Ethan Brown, President and CEO \u2063of Beyond Meat.<\/p>\n<h3>Challenges in\u200c the Plant-Based Meat Market<\/h3>\n<p>The demand for plant-based meat in the United\u2064 States has experienced a significant decline this year. According to Circana, a market\u200d research firm, retail sales of fresh meat alternatives, such as sausage and burgers, have dropped by 21.5 percent. \u200bAdditionally, frozen plant-based meat sales, including items like \u2063tenders\u200d and nuggets, have decreased by 6 percent.<\/p>\n<p>Ethan \u200bBrown attributes this decline to high inflation, which has led \u200dsome consumers to opt for cheaper animal meats. Furthermore, plant-based \u200cmeat faces the challenge of battling perceptions that it is overly processed \u200band unhealthy,\u2062 fueled in\u200c part \u200cby advertisements released by rival food companies.<\/p>\n<h3>Related Stories<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.theepochtimes.com\/article\/at-150000-new-jobs-and-another-fed-pause-the-economy-is-set-for-stagflation-5522418?ea_src=author_manual&#038;ea_med=related_stories\"><strong>At 150,000 New Jobs and Another Fed Pause, the Economy Is Set for &#8216;Stagflation&#8217;<\/strong><\/a>  \u2062 -\u200d Published \u200bon 11\/3\/2023<\/li>\n<li><a href=\"http:\/\/www.theepochtimes.com\/world\/canada-adds-fewer-jobs-than-expected-in-october-jobless-rate-rises-5522432?ea_src=author_manual&#038;ea_med=related_stories\"><strong>Canada Adds Fewer Jobs Than\u200d Expected in October, Jobless \u2063Rate Rises<\/strong><\/a>  &#8211; Published\u2063 on \u206211\/3\/2023<\/li>\n<\/ul>\n<p>Beyond Meat&#8217;s third-quarter earnings will be released on Nov. 8, with an expected revenue of \u200d$75 million for the July\u2013September \u200bperiod. This projection represents an 8.5 \u2063percent \u200bdecrease compared to the same period last year.<\/p>\n<p>The\u2062 company also revised its \u2062full-year\u200d net revenue forecast to be \u2063in the range of $330\u200d million to $340 million, a decline of 19 percent to 21 percent from the previous \u2062year. Analysts\u2063 polled \u200cby FactSet had anticipated full-year sales of $365 million.<\/p>\n<p>This\u2064 is not the first time Beyond Meat has implemented layoffs. Last year, the company let go of\u200b approximately 240 employees due to inflation pressures and intensifying competition.<\/p>\n<p>Beyond Meat attributes\u2063 the weaker sales to U.S. retail and food service \u2062sectors, as well as\u200b lower-than-expected returns on promotional programs. To\u200c counter negative perceptions, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/beyond-meat-cuts-non-production-workforce-by-19-percent-with-demand-for-plant-based-meat-weak\/\" title=\"Beyond Meat reduces non-production workforce by 19% due to low demand for plant-based meat.\">company \u2064recently launched\u2063 advertising campaigns<\/a> in the United States.<\/p>\n<p>While Beyond\u200c Meat has found success in Europe, where its products are \u200bfeatured on McDonald&#8217;s menus, the company has yet\u2062 to secure\u200c a permanent spot on McDonald&#8217;s U.S. menu.<\/p>\n<div class=\"my-5\"><em>By Dee-Ann Durbin<\/em><\/div>\n<p> <\/p>\n<h2> What challenges do some consumers face when trying to replicate the flavor and texture of traditional meat\u200c with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/whos-really-behind-the-war-on-meat-how-bill-gates-is-quietly-transforming-americas-food-industry-from-within\/\" title=\"Who\u2019s Really Behind The War On Meat? How Bill Gates Is Quietly Transforming America\u2019s Food Industry From Within\">plant-based alternatives<\/a>?<\/h2>\n<p><span>  E challenge of taste and texture, with some consumers\u2062 finding it difficult\u200b to replicate\u2062 the flavor and \u200ctexture of traditional meat.<\/p>\n<p>Despite these challenges,\u2062 Beyond Meat remains optimistic about the long-term potential\u200d of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/to-greener-pastures-beyond-meats-dismisses-almost-one-fifth-of-employees-executive-who-bit-guys-nose-allegedly\/\" title=\"TO Greener Pastures: Beyond Meats Dismisses Almost One-Fifth Of Employees, Executive Who Bit Guy\u2019s Nose Allegedly\">plant-based meat market<\/a>. The company believes\u200b that as technology and innovation continue\u2064 to improve, plant-based meats will become more appealing to a wider range of consumers.<\/p>\n<h3>Strategic Changes in Response\u200c to Market Conditions<\/h3>\n<p>As part of its response to weaker-than-expected sales, Beyond Meat is considering \u200ca range\u2064 of \u200dstrategic \u200cchanges. This includes potentially exiting certain product lines that have not performed well\u2062 and adjusting pricing to make its products more competitive in\u200b the market.<\/p>\n<p>In addition, the\u2063 company is exploring manufacturing\u2064 shifts to improve efficiency\u200b and reduce costs. This could involve changes to its production processes or the use of different suppliers or manufacturing facilities.<\/p>\n<p>Beyond Meat is also reviewing its operations in China, with a focus on streamlining its processes and\u200c organization. This may involve restructuring its Chinese operations to better align with the local market and consumer preferences.<\/p>\n<h3>Implications of Workforce Reduction<\/h3>\n<p>Reducing its non-production workforce by 19 percent will allow Beyond Meat to streamline its operations and reduce costs. While this decision will impact approximately 65 employees, \u2064the company believes that the changes are necessary to position itself for future growth.<\/p>\n<p>Beyond Meat remains committed to its mission of creating\u2063 delicious, sustainable, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/redefine-meat-strikes-partnership-to-boost-3d-printed-meat-sales-in-europe\/\" title=\"Redefine Meat strikes partnership to boost 3D-printed meat sales in Europe\">plant-based meat alternatives<\/a>.\u2062 The \u200dcompany believes that by making strategic changes and adapting to market conditions, it can \u200covercome the current challenges and continue to \u200ddrive the growth of the plant-based meat \u2062market.<\/p>\n<h3>Investor Response<\/h3>\n<p>Despite the disappointing third \u2064quarter results, Beyond \u200dMeat&#8217;s shares\u200c saw a 20 percent increase during Thursday&#8217;s afternoon trading. This suggests that investors still have \u200bconfidence in \u200dthe company&#8217;s long-term prospects.<\/p>\n<p>Investors \u2062may see the workforce reduction and other \u2063strategic changes as proactive steps taken by Beyond Meat\u200d to address the challenges in the market. They may also view the potential for product\u2062 line exits, pricing adjustments, manufacturing shifts, and restructuring as positive signs that the company is willing to adapt and evolve to better meet consumer\u2062 demand.<\/p>\n<h3>Conclusion<\/h3>\n<p>Beyond\u2064 Meat&#8217;s decision to reduce its workforce and consider strategic changes reflects the challenges faced by \u2064the plant-based meat market. With declining sales and competition from cheaper animal meats, the company is taking action \u200cto streamline\u2064 its\u2064 operations, reduce costs, and better align with consumer preferences.<\/p>\n<p>While the current market conditions are challenging, Beyond Meat remains optimistic about the \u2064long-term \u200bpotential of plant-based meats. By making strategic changes and adapting to\u200b market conditions, the company believes it can continue to drive growth and offer sustainable and delicious alternatives to traditional meat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beyond Meat is downsizing its non-production workforce by 19% due to a disappointing third quarter. Around 65 employees will be affected as part of a wider corporate review. The plant-based meat company is also contemplating discontinuing certain product lines, altering pricing, changing manufacturing processes, and restructuring its operations in China.<\/p>\n","protected":false},"author":136,"featured_media":2091276,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2091275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2091275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/136"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2091275"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2091275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2091276"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2091275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2091275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2091275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}