The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Beverages 11.05 - Manufacture of beer
5,500 - 6,600 jobs Number of planned job losses
Announcement Date
26 August 2016
Employment effect (start)
26 August 2016
Foreseen end date
31 December 2020
Description
Anheuser-Busch is to cut 3% of its combined workforce (5,500 positions) following its takeover of rival SABMiller. This is part of a drive to make savings of $1.4 billion per annum within four years. Principally, jobs will be lost in Europe, with China and the USA also affected. Headquarters in Leuven and New York appear to be safe, with losses likely in the UK sites in Woking and London. Confirmation will come from a shareholders' decision after a meeting on September 28th. Sales and front-office staff are likely to be unaffected, with corporate roles more vulnerable. There may be expansion into new, fast-growing markets, particularly in Africa, which would involve some compensatory job creation.
Sources
26 August 2016: Fortune
26 August 2016: Grub Street
26 August 2016: Bloomberg
26 August 2016: Daily Times
Citation
Eurofound (2016), Anheuser-Busch, Merger/Acquisition in World, factsheet number 88448, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88448.
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