Meatless Farm Makes ‘All Teams Redundant’
Plant-based meat company Meatless Farm appears to have laid off a majority of its workforce, according to social media posts from several former employees in addition to reports by BBC News and The Telegraph. The news comes as consumer appetite for alt-meat, especially in the U.S., dwindles.
Launched in 2018, the U.K.-based company markets pea and soy protein-based burgers, grounds, sausage patties and links in the U.S., Canada, China and several European countries including Germany, Switzerland and Sweden. It recently launched two pasta entrees – Beef, Red Wine and & Porcini Mushroom Girasole and No-Duja Ravioli – in the U.K.
Last month, Meatless reportedly hired corporate investigation and risk consulting firm Kroll “in hopes of finding a buyer for the business as it faced running out of cash,” as reported by The Telegraph. The company had previously raised $17 million in 2019 and $31 million in 2020.
According to its LinkedIn profile, Meatless employs somewhere between 51 and 200 employees. Many of those employees took to the social media site on Friday announcing they had been let go.
“Sadly my time at Meatless Farm has come to an end. After a fantastic 10 months leading a talented and highly engaged sales team the business has unfortunately made all teams redundant,” wrote former head of sales Tim Offer in his post. “I learnt a huge amount in a short space of time and have absolutely loved the people and the brand.”
Former global website manager Rob Stanworth, who had been with the company for nearly five years, wrote, “We’ve antagonized and challenged the norms, all in search of a more sustainable way of living for the next generation. The food…if you could compare it now to what it was when we were frying burgers in a loft space whilst covering up smoke alarms…the progress has been huge.”
He continued, “Alas, it’s just not meant to be.”
Former culinary executive chef James Sammé and former national business development manager Daniel James Stanbridge, also shared their gratitude for their time at the company while noting they are actively seeking new job opportunities.
The exact number of layoffs is unclear. Additionally, Meatless’ website displays an error message stating it is “currently unavailable.”
Several other plant-based meat companies have also cut back their staff to pivot toward profitability. Last week, mycelium-based meat producer Meati announced it had pared back its workforce by approximately 5%, impacting about 17 employees of the 300-person company. In October, Impossible Foods undertook similar cost-cutting measures, dismissing around 6% of its 800-person workforce under a structural reorganization led by CEO Peter McGuiness.
Meanwhile, Beyond Meat has undertaken two rounds of layoffs, with the most recent round accounting for 20% of the company’s staff. The employment reductions significantly contributed to the company’s 23% reduction in operating expenses, which dropped from $97.8 million in Q1 2022 to $74.9 million in Q3.
The dismissals are likely also a result of a drop in U.S. alt-meat sales within the past year. According to a recent report by the Good Food Institute (GFI) and the Plant Based Food Association (PBFA), plant-based meat sales declined slightly by 1% year-over-year in 2022 and unit sales were down -8% to $255 million compared to $277 million in 2021.
Despite gains in recent years, GFI found, mass market adoption of plant-based meat remains limited by taste and price-related challenges.
