Beyond Meat is cutting 19% of its non-production workforce after a weaker-than-expected third quarter.
The plant-based meat company said Thursday that the reduction of approximately 65 employees is part of a broader corporate review.
The company is also considering exiting some product lines, changing pricing, shifting its manufacturing and restructuring its Chinese operations.
Beyond Meat President and CEO Ethan Brown said the company had anticipated a return to sales growth in the July-September period that didn't happen.
The company plans to release its third quarter earnings next week, but said revenue is expected to be down 8.5% for the quarter.
