Australian company behind woolly mammoth meatballs axes 30 per cent of workforce

United States News News

Australian company behind woolly mammoth meatballs axes 30 per cent of workforce
United States United States Latest News,United States United States Headlines

Cultured meat start-up Vow’s novel meat products have made headlines globally – but the company has hit a roadblock.

  • 📰 brisbanetimes
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 67%

Cultured meat start-up Vow is shedding 30 per cent of its workforce, making 25 staff members redundant, with chief executive George Peppou blaming slower than expected regulatory approvals for the “incredibly difficult decision”.

In a Slack message to all staff, who are known as “Vowzers”, Peppou said on Monday that the redundancies were in part due to a “very challenging funding environment”.In addition to Hostplus and Blackbird Ventures’ contributions to its $US50 million fund, Vow has also attracted investment from Square Peg and the family office of Atlassian billionaire Mike Cannon-Brookes.

The chief executive told this masthead it was “an incredibly difficult decision” that it “truly hurt to make”. Peppou said the redundancies were not a reflection on Vow’s staff but instead on what the start-up needs to achieve in the next two years.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

brisbanetimes /  🏆 13. in US
 

United States United States Latest News, United States United States Headlines



Render Time: 2025-01-19 11:07:13