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AB InBev expects job cuts after SABMiller takeover

Friday, August 26, 2016 - 01:00

Anheuser-Busch InBev expects to cut some 3 percent of its combined workforce after it has acquired rival SABMiller, according to takeover documents published on Friday. Kirsty Basset reports.

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It will be the largest ever consumer products takeover. But AB Inbev's planned takeover of SABMiller is also expected to result in job losses. 5,500 jobs - or three per cent of its combined workforce is expected to be cut, according to a source speaking to Reuters. The maker of Budweiser, Stella Artois and Corona expects the potential job losses to take place over a three-year period. The news came on the same day the companies disclosed they will pay almost 2 billion U.S. dollars in fees to banks, lawyers, PR firms and other advisers. The world's largest brewer still needs backing from SABMiller shareholders for its 45 pound per share offer before it can go ahead. Shareholders will vote at a meeting in late September.

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AB InBev expects job cuts after SABMiller takeover

Friday, August 26, 2016 - 01:00