Beyond Meat, maker of imitation meat, is cutting 19% of its workforce, including its embattled, nose-biting COO, in an effort to cut costs as inflation drives consumers to trade down to real meat products, and testing-deals with fast food giants have failed to pan out.
According to the report, the company’s Chief Operating Officer, Doug Ramsey will leave the company after Friday. After a confrontation inside an Arkansas parking garage ended with Ramsey biting a man’s nose, Rasmey had been on a suspension starting September 20th.
The police report on the incident, obtained by local television station KNWA/Fox 24, alleged that Ramsey had been arrested September 17th, due to the 53 year old having, “punched through the back windshield” of another vehicle after the vehicle had hit the front tire of Ramsey’s car.
When the other driver exited their car, Ramsey began beating him, and then “bit the owner’s nose, ripping the flesh on the tip of the nose.” Police charged Ramsey with terroristic threatening and third-degree battery.
Beyond Meat also announced the departure of the company’s CFO, and issued a third quarter sales warning. The company had already cut its global workforce by 4%, and downgraded its full-year guidance after a larger than expected loss following its second quarter.