Beyond Meat exec charged with biting last month departs company

This photo provided by Washington County, Arkansas shows Douglas Ramsey.  Officials say Ramsey, a vegan food products company executive has been charged with felony battery and making a terroristic after a fracas outside a football game in which he's accused of biting a man's nose.  Ramsey, Beyond Meat Chief Operations Officer,  is accused in the road rage attack outside Saturday, Sept. 17, 2022, game in Fayetteville between the Arkansas Razorbacks and Missouri State Bears.   (Washington County, Arkansas Sheriff's Office via AP)
This photo provided by Washington County, Arkansas shows Douglas Ramsey. Officials say Ramsey, a vegan food products company executive has been charged with felony battery and making a terroristic after a fracas outside a football game in which he's accused of biting a man's nose. Ramsey, Beyond Meat Chief Operations Officer, is accused in the road rage attack outside Saturday, Sept. 17, 2022, game in Fayetteville between the Arkansas Razorbacks and Missouri State Bears. (Washington County, Arkansas Sheriff's Office via AP)


The Beyond Meat executive charged with biting a man's nose during a fight last month left the plant-based meat company Friday amid a larger round of job cuts as the company seeks tries to offset a decline in sales.

Doug Ramsey, a former Tyson Foods executive who joined Beyond Meat as its chief operating officer late last year, was charged with felony battery and making a terroristic threat after a Sept. 17 fight in a parking garage at the University of Arkansas.

Beyond Meat suspended Ramsey a few days later. On Friday, Beyond Meat said in a regulatory filing that Ramsey was leaving the company. Ramsey is scheduled to appear in court next week.

The news came as Beyond Meat announced a second round of job cuts and trimmed its revenue expectations for the year.

The company said Friday that 200 job cuts, which amount to about 19% of its total global workforce, will be mostly completed by the end of the year. It cited record inflation as well as increased competition and lower demand for plant-based meat.

Beyond Meat Inc. expects about $4 million in one-time charges tied to the job cuts, with most of the charges booked in the fourth quarter.

The company now foresees full-year revenue in a range of approximately $400 million to $425 million. Its prior guidance was for revenue of $470 million to $520 million.

Analysts polled by FactSet predict revenue of $481 million.

The announcement by Beyond Meat comes two months after the company said that it was laying off 4% of its workforce after a difficult second quarter that saw cost-conscious customers bypass its higher-priced products.

Shares of the El Segundo, California-based company ended Friday down $1.43, or 9.7%, at $13.35.