Cultivated meat pioneer Vow cuts 25 jobs as it narrows focus
Sydney startup Vow is slashing 25 jobs in a strategic pivot to manufacturing, as the cultivated meat pioneer gets closer to local regulatory approval.
Cultivated meat company Vow announced to staff this morning that it will be laying off staff across multiple departments, including leadership positions, as the Australian startup narrows its focus to manufacturing and market expansion.
The 25 employees affected span research and development, sales and communications teams. Although the redundancies saw most of the R&D team impacted, Vow founder George Peppou insisted that it had not offshored R&D but rather reduced its investment in the area substantially. "We have multiple suppliers overseas that will continue to do some parts of our product and process development," he told Capital Brief.
The layoffs come as the company seeks to extend its runway through 2027.
Peppou acknowledged the challenges facing the industry. "Vow is pioneering success in an industry in which many companies have already failed, with more than 200 companies founded, over $3 billion invested and still only three with regulatory approvals (one of which is Vow) to sell anywhere in the world," he said.
