ST. LOUIS (KTVI) – Job cuts are brewing at AB InBev.
According to a report in Bloomberg, the world’s largest brewery plans to cut 5,500 jobs after acquiring rival SAB Miller. The job cuts would amount to three percent of its workforce.
At present, AB InBev employs 150,000 people, while SAB Miller has approximately 70,000 workers on its payroll.
The job cuts would be implemented gradually and in phases, Bloomberg reports. There’s no word on when they’ll occur.
The mass market brewers are attempting to cut production and distribution costs as they lose market share to smaller, independent brands.
The $104 billion deal is expected to be approved in September.
According to our partners at the St. Louis Post-Dispatch, Anheuser-Busch cut about a third of jobs over a three-year period after being bought by InBev. Prior to that merger, Anheuser-Busch had more than 6,000 employees in the St. Louis area. But 2011, that number was reduced to about 4,000. Current local employee numbers have not been made available.