Impossible Foods cuts 6% of staff in other layoffs this year
Impossible Foods said it will eliminate 6% of its workforce in the company’s second round of layoffs so far this year.
Courtesy of Impossible FoodsBay Area-based food company Impossible Foods announced another round of layoffs this week.
A pioneer in the plant-based meat space, it will eliminate 6% of its workforce, amounting to approximately 50 employees, as it seeks to eliminate redundancies and positions “that are no longer aligned with our core business priorities,” CEO Peter McGuinness wrote to employees in a note, according to Food Navigator.
Headquartered in Redwood City, this is the food technology company’s second round of layoffs this year after 15 people quit in January.
Impossible Foods did not respond to SFGATE’s request for comment by the time of publication.
Pat Brown founded Impossible Foods in 2011, but the former CEO stepped down from his post in April and announced plans to lead a new research arm of the company last month. Financial experts speculated that the company could go public this year, but any plans appear to have been put on hold given the economic downturn. McGuinness told Food Navigator that the product was “consistently rated best in category, but awareness remained low.”
In late 2021, Impossible Foods opened a ghost kitchen in Oakland called “The Impossible Shop”, which offers a variety of prepared faux meat products for delivery. There’s now another fulfillment center in SoMa, though the experience didn’t impress SFGATE’s Madeline Wells.
Impossible Foods has 870 employees, according to LinkedIn, of which 538 are in the Bay Area.
