Anheuser-Busch To Cut 5,500 Jobs…

P/C Ted Thompson FLICKR
P/C Ted Thompson FLICKR

[8/26/16]  Anheuser-Busch BUD -0.05% expects to cut some 3% of its combined workforce after it has acquired rival SABMiller, according to takeover documents published on Friday.

That would be some 5,500 jobs, according to a source with information on the offer.

AB is aiming to achieve pre-tax savings of at least $1.4 billion per year within the four years after completion of the takeover through increased efficiency, sharing best practices and the removal of overlaps in corporate and regional headquarters.

The maker of Budweiser, Stella Artois, and Corona expects the potential job losses to take place over a three-year period

SABMiller employs some 70,000 people and AB more than 150,000, although the combined group’s workforce will be lower because of planned divestments, principally in Europe along with joint venture stakes in the United States and China….CONTINUE READING