Following the launch of its products in Whole Foods stores nationwide, Meati Foods, which makes plant-based meat alternatives, is cutting about 20% of its positions to focus on becoming more profit…
Odd as they just lost their plant controller and are expanding like mad. I wonder if one of their big contracts fell through or if this truly is restructuring around their new plants and expansion model
Edit: apparently that $50MM injection came with the stipulation that they are profitable within ~1 year. That’s never going to happen in manufacturing with high capex, hell even if it was tech that’s not going to happen. Either the investors are going to have to get a dose of reality or Meati will cease to exist by around this time next year and these myopic investors get to eat crow. I feel bad for employees because profitability in the timeframe being demanded by investors is beyond unreasonable and I suspect investors will want to sell off IP to recoup their money and the hard working employees will suffer
Odd as they just lost their plant controller and are expanding like mad. I wonder if one of their big contracts fell through or if this truly is restructuring around their new plants and expansion model
Edit: apparently that $50MM injection came with the stipulation that they are profitable within ~1 year. That’s never going to happen in manufacturing with high capex, hell even if it was tech that’s not going to happen. Either the investors are going to have to get a dose of reality or Meati will cease to exist by around this time next year and these myopic investors get to eat crow. I feel bad for employees because profitability in the timeframe being demanded by investors is beyond unreasonable and I suspect investors will want to sell off IP to recoup their money and the hard working employees will suffer