Beyond Meat Suspends Operations In China To Cut Costs

Beyond Meat has announced plans to suspend operations in China and cut around six percent of its total workforce in an effort to reduce operating expenses and turn a profit by 2026. The company will cut 44 jobs in North America and the EU, make executive leadership changes, and eliminate 20 jobs in China, representing 95 percent of its China workforce.

Despite reporting a four percent increase in sales in the last quarter of 2024, Beyond Meat posted a net loss of 65 cents per share, causing its share price to fall by five percent. The plant-based meat industry continues to struggle in appealing to customers who prioritize price, taste, and texture over environmental or health benefits, according to eMarketer analyst Rachel Wolff.

Last year, Beyond Meat introduced new products like mycelium steak and vegetable-based sausages in response to misinformation and consumer preferences. The company expects annual net revenue between $320 million and $335 million for 2025, but analysts' estimates were higher, leading to the drop in share price by over 50 percent in the past year.