US Mycelium Meat Maker Meati Lays Off 10% of Its Workforce, Shuts Down Pilot Plant

Mycelium meat startup Meati, based in Colorado, has laid off 10% of its workforce and shut down its pilot plant in a bid to become profitable. The company, which previously let go of 5% of its employees in June, has confirmed that 30 employees have been cut from its 300-strong workforce, including executive-level employees. Despite recent success, Meati has been forced to restructure in order to achieve near-term profitability, citing the challenging economic climate and the need for a sustainable business model.
The layoffs at Meati come as other plant-based food companies have also faced challenges, with the alt-meat industry experiencing a decline in sales and consumer interest. Despite the setbacks, Meati remains confident about its growth trajectory and plans to add 100 additional positions to expand production capacity. The company is aiming to position itself for continued growth and industry leadership despite the current challenges faced by the plant-based food sector.