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　　On Wednesday, local time, Beyond Meat (BYND.US) CEO Ethan Brown told employees in an internal memo that the company cut about 40 jobs as part of a cost-cutting plan. "Despite the difficulties, this decision is part of our larger strategy to reduce operating expenses and support sustainable growth," said Brown.

　　According to people familiar with the matter, staff in multiple operations teams have been affected. Beyond Meat had about 1,100 employees at the end of last year.

　　Beyond Meat is not only a pioneer in developing plant-based imitation meat, it was once a Wall Street darling, but as its efforts to increase production and create new products have suffered setbacks and competition has intensified, the company's artificial meat products have so far remained difficult Enter the mass market and become profitable.

　　It is understood that during the company's earnings call in May, the company's chief financial officer Phil Hardin described the initial production process of its artificial beef jerky, which it launched in partnership with PepsiCo (PEP.US), saying it was "expensive and inefficient. ".

　　As a result, Wall Street is starting to turn bearish on the company, with its stock down nearly 50% so far in 2022 and suffering a similar drop in 2021. As of press time, Beyond Meat fell 1.17% to $33.65 in after-hours trading.

　　Among them, David Trainer, CEO of investment research firm New construct, expressed concerns about the company's cash flow in a recent research note, saying: "Beyond Meat has failed to generate any positive free cash since going public in 2019. Streaming, raising additional capital to fund further burns can be costly and bad news for both existing and new shareholders.”

　　Trainer said the company had $548 million in cash at the end of the fiscal first quarter, which at current spending levels would only be enough to sustain operations for the 10 months following the end of the fiscal first quarter on April 2. However, layoffs can help preserve Beyond Meat's cash, but "will need to look at the evidence before we see how much layoffs can slow the burn."