VGFC - The Very Good Food Company lowering production headcount

The Very Good Food Company (NASDAQ:VGFC) is rising 1.58% premarket after the firm says that the company is temporarily lowering production throughput and headcount to manage inventory levels, and implementing initiatives such as pausing non-critical capital expenditures and lowering SG&A spending, to manage both short and long-term liquidity and to establish a path towards profitability. The company is taking this opportunity to implement additional cost improvement measures as it transitions from a focus on top line growth, to a focus of balancing top line growth and profitability. As part of this shift, VERY GOOD expects to further right-size its workforce across multiple business functions as it streamlines operations. VERY GOOD is currently reviewing its 'go-to market' channels and  will continue to focus on the wholesale and food service channels, particularly in the US, which the company views as critical to realizing its vision to scale. The company experienced a greater than expected cash

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The Very Good Food Company lowering production, headcount