ABInBev Warns of Thousands of Merger-Related Job Losses
August 26 2016 - 05:35AM
Dow Jones News
By Laurence Norman
Belgium's Anheuser-Busch InBev NV warned Friday its beer
megamerger with SABMiller PLC could lead to thousands of job losses
in coming years, according to documents related to the
transaction.
The company said that around 3% of the total workforce of the
combined group could be laid off, but said "job reductions will be
implemented gradually, in phases, over a three-year period
following" the completion of the merger.
AB InBev says it currently employs around 150,000 people while
SABMiller puts its workforce at around 70,000.
AB InBev said the 3% figure excludes sales and front-office
supply staff. The company said it wasn't able to advance its
integration plans for the workforce in those position because of
regulatory restrictions.
AB InBev said last month it continues to work to close the $100
billion-plus merger deal this year. Acquiring SABMiller would give
it access to the fast-growing African beer market and reduce its
reliance on the U.S.
Write to Laurence Norman at laurence.norman@wsj.com
(END) Dow Jones Newswires
August 26, 2016 05:20 ET (09:20 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Sabmiller (LSE:SAB)
Historical Stock Chart
From Feb 2024 to Mar 2024
Sabmiller (LSE:SAB)
Historical Stock Chart
From Mar 2023 to Mar 2024