Impossible Foods said it will eliminate 6% of its staff 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 staff, 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 memo, according to Food Navigator.
Headquartered in Redwood City, this is the food tech company’s second round of layoffs this year after 15 people exited in January.
Impossible Foods did not respond to SFGATE’s request for comment as of publication.
Pat Brown founded Impossible Foods in 2011, but the former CEO stepped down from his position in April and announced plans to head up a new research arm of the company just last month. Financial experts speculated the company might go public this year, but any possible plans appear to have been halted given the economic downturn. McGuinness told Food Navigator that the product was “consistently rated as best in the category, but awareness remained low.”
In late 2021, Impossible Foods opened a ghost kitchen in Oakland dubbed “The Impossible Shop,” offering 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, 538 of whom are in the Bay Area.
