Beyond Meat plans to hike prices and sharply cut costs as part of a huge turnaround plan to fight slumping sales of plant-based meat

• Beyond Meat says it plans to increase prices to boost its profit margin.
• It also plans $70 million of cost cuts and will discontinue some products, like its plant-based jerky.
• US sales fell by a third in 2023. The company attributed it to "misinformation," sales discounts, and low demand.

Beyond Meat has unveiled details of a massive turnaround plan, including raising the prices of its plant-based meat and cutting overall costs as it struggles with slumping sales.