Beyond Meat cutting 4% of workforce

The big picture: The move is yet another example of corporate belt tightening. As other companies have done this quarter — including Walmart and Target — Beyond Meat is lowering part of its financial forecast for the year, citing economic uncertainty.

What they're saying: Consumers are either switching back to traditional meat, which is typically less expensive, or to cheaper brands which offer the same kind of product, the company's CEO Ethan Brown said in a statement.

• Throughout this summer, analysts have been reporting lackluster demand for McDonald's McPlant burger, which uses the meat-free Beyond patty, during a months-long testing period.