Beyond Meat Suspends Operations In China To Cut Costs

Beyond Meat has announced plans to suspend operations in China in the coming months.

Following a review of its global operations, the plant-based meat company has said that it will also cut around six percent of its total workforce in the hope of turning a profit by 2026.

Beyond Meat will cut 44 jobs in North America and the EU and make unspecified “executive leadership changes.” With the suspension of Chinese operations at the end of June, the company will cut an additional 20 jobs – 95 percent of its total China workforce.

The decisions to cut Beyond Meat’s operations in China and reduce its overall workforce size were made “based on cost-reduction initiatives intended to reduce operating expenses,” said the company in a statement on its fourth quarter and full-year 2024 financial results.

Read more: Beyond Meat Unveils New Beyond Steak Range

Beyond Meat: boosted sales and falling shares

Beyond Meat expects its annual net revenue to land between $320 million and 335 million for 2025, below analyst estimates of $337.6 million, according to Reuters. Following these predictions, the company’s share price fell five percent. This share price has fallen more than 50 percent in the last year.

Beyond Meat reported a four percent increase in sales in the three months leading up to December 31. However, the company posted a net loss of 65 cents per share compared to analysts’ previous estimates of 43 cents.

“The plant-based meat industry is still struggling to figure out how best to appeal to customers, many of whom are more concerned with price – and taste and texture – than with the potential environmental or health benefits of buying meat alternatives,” eMarketer analyst Rachel Wolff told Reuters earlier this week.

Last year, Beyond Meat reported a “strong Q2,” despite growing “misinformation” about the plant-based category and processed foods. In response, the plant-based meat company has now “healthier” whole-cut mycelium steak and vegetable-based sausages to its lineup.

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