Past Meat cuts annual income forecast

The corporate is reviewing its China operations

calendar icon 5 November 2023

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Past Meat lower its annual income forecast for the second one time this yr as customers curtail spending on its pricier plant-based merchandise and introduced new process cuts and a evaluate of world operations as a part of a cost-reduction plan, reported Reuters

Stocks rose about 6% in early buying and selling as the corporate projected about $9.5 million to $10.5 million in money working financial savings for 2024, principally from shedding about 65 workers, or about 19% of world non-production staff.

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