Why Beyond Meat (BYND) Shares Are Falling Premarket Today - Beyond Meat (NASDAQ:BYND)

Beyond Meat Inc BYND has put forth steps for a sustainable growth model and achievement of cash flow-positive operations.
The company is reducing its current workforce by approximately 200 employees, representing about 19% of its total global workforce.
In connection with the jobs cut, Beyond Meat expects to incur $4 million consisting of the notice period and severance payments, employee benefits, and related costs.
The headcount slash will be executed by the end of 2022.
Beyond Meat also lowered its Q3 FY22 revenue outlook to $82 million, a 23% Y/Y decrease versus an estimated $117.11 million.
It sees FY22 revenue in the range of $400 million - $425 million, against an estimate of $494.55 million.
The previous revenue outlook was $470 million - $520 million.
Price Action: BYND shares are trading lower by 2.23% at $14.45 in premarket on the last check Friday.

Beyond Meat Shares Drop On Jobs, Outlook Cut Plan