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Beyond Meat cuts 19% of workforce, shakes up leadership team
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Beyond Meat is slashing 200 jobs, or approximately 19% of its global workforce, as part of an effort to achieve positive cash flow within the second half of 2023.
The company estimates one-time cash charges of approximately $4 million in connection with the layoffs, primarily consisting of notice period and severance payments, employee benefits and related costs, with the majority of these charges incurred during the fourth quarter of 2022. The layoffs will be substantially complete by the end of the year.