Impossible Foods may be poised for a second round of layoffs, with a report putting the number at 20%.
Impossible Foods makes plant-based “meats.” It’s product is sold in stores and used in Burger King’s Impossible Whopper, as well as other fast-food meals. Despite its success, the company appears to be on the verge of additional layoffs.
According to Bloomberg, via TechCrunch, the company is planning to let roughly 20% of its workforce go. With a total of 700 employees, this would impact more than 100 workers.
Impossible Foods already let 6% of its staff go in October, well before some of the biggest layoffs in the tech industry. The most recent report is somewhat surprising since Impossible Foods appears to be doing well financially, with strong sales, positive growth, and good cash flow.