Infarm plans to ‘downsize’ UK operations

Infarm plans to ‘downsize’ UK operations

Vertical farm firm Infarm is halving its global workforce as part of a “significant strategy shift” and bid to reach profitability next year.

Some 500 staff are in the process of leaving the company, which warned it is proposing to “downsize operations” in the UK as well as in France and the Netherlands.

In a joint statement, company co-founders Erez Galonska, Osnat Michaeli and Guy Galonska said in its current form Infarm “cannot withstand the challenging market conditions, particularly with regards to escalating energy prices and tough financial markets”.

“We have to adapt our ambitious growth targets and increase our efficiencies to make our business profitable, and continue the pursuit of our long-term mission,” the co-founders said.

“The tough reality is that this shift and the reduction of our production sites will have a significant impact on people,” they added.

As well as soaring energy prices, the company noted the added pressures on its finances from inflation, supply chain disruptions and rising material costs.

Infarm had already been slimming down its operations by consolidating production sites and its in-store salad-growing mini-farms over the last 12 months.

“However, these measures assumed a quick market recovery, and we must admit our assessment was too optimistic,” the co-founders said.

Continue reading.

Photo: Infarm



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