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Creve Coeur-based Benson Hill makes layoffs as part of ongoing cost-cutting plan

Since becoming publicly traded, Benson Hill’s share price has sagged from its starting point of $10, trading at $1.18 per share Thursday afternoon.
Credit: SLBJ
Benson Hill's headquarters in Creve Coeur. Image courtesy of Benson Hill.

CREVE COEUR, Mo. — Food technology firm Benson Hill Inc. (NYSE: BHIL) has made staffing cuts as part of a push to reduce costs and improve cash flow as it seeks to achieve profitability by 2025.

Creve Coeur-based Benson Hill said in a statement to the Business Journal that its enactment of cost-cutting measures led in early May to a revised 2023 staffing plan that that has resulted in “reimagined roles for which we plan to hire later in the year and some displaced employees, including a handful of roles in the St. Louis region.”

Benson Hill declined to share the number of workers impacted by the staffing cuts. It said May 24 in a regulatory filing that it expects a one-time expense of $1.1 million related to employee severance and benefits costs, as part of its cost-cutting initiative.

Click here for the full story from the St. Louis Business Journal.

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