date:Nov 16, 2022
Oatly has trimmed its full-year guidance following a less-than-expected quarterly revenue loss. The oat milk brand, which went public in May of last year, is now planning to slash its staffing levels and expects to achieve annual savings of up to US$25 million from its reorganization strategy.
Third quarter financial results were below our expectations, largely driven by COVID-19 restrictions in Asia, production challenges in the Americas and continued foreign exchange headwinds, explains Toni