Anheuser-Busch said to lay off U.S. corporate staff as Bud Light sales slump
By: Jessica Kuruthukulangara - SA Editor
Anheuser-Busch InBev (BUD) has laid off over 300 U.S. employees, the Wall Street Journal reported, as the brewer struggles with weak Bud Light sales amid backlash over a controversial ad campaign featuring trans influencer Dylan Mulvaney.
The layoffs affect less than 2% of AB InBev's (BUD) ~18K workforce in the U.S. The move will not impact brewery and warehouse employees or drivers and field sales workers.
As part of the layoffs, AB InBev (BUD) eliminated corporate and marketing roles at offices in St. Louis, New York and Los Angeles.
"These corporate structure changes will enable our teams to focus on what we do best - brewing great beer for everyone," said AB InBev (BUD) CEO Brendan Whitworth.
Bud Light sales have weakened in recent months as customers boycott the brand over the ad campaign. Bud Light was dethroned as the top-selling beer in U.S. last month.
"While investors are waiting for BUD to fully quantify the impact of the Bud Light situation, we see upcoming H1 results as likely timing for such clarification," Morgan Stanley said last week.
AB InBev (BUD) will report Q2 results on next week (August 3) before U.S. market open.
By: Jessica Kuruthukulangara - SA Editor
Anheuser-Busch InBev (BUD) has laid off over 300 U.S. employees, the Wall Street Journal reported, as the brewer struggles with weak Bud Light sales amid backlash over a controversial ad campaign featuring trans influencer Dylan Mulvaney.
The layoffs affect less than 2% of AB InBev's (BUD) ~18K workforce in the U.S. The move will not impact brewery and warehouse employees or drivers and field sales workers.
As part of the layoffs, AB InBev (BUD) eliminated corporate and marketing roles at offices in St. Louis, New York and Los Angeles.
"These corporate structure changes will enable our teams to focus on what we do best - brewing great beer for everyone," said AB InBev (BUD) CEO Brendan Whitworth.
Bud Light sales have weakened in recent months as customers boycott the brand over the ad campaign. Bud Light was dethroned as the top-selling beer in U.S. last month.
"While investors are waiting for BUD to fully quantify the impact of the Bud Light situation, we see upcoming H1 results as likely timing for such clarification," Morgan Stanley said last week.
AB InBev (BUD) will report Q2 results on next week (August 3) before U.S. market open.