Tapping Out: Budweiser APAC's Cost-Cutting Measures Hit Hard

Budweiser APAC to Slash Thousands of Jobs Due to Weakened Demand

Budweiser Brewing Co APAC Ltd will be laying off thousands of workers this year in a move to slash operational expenses by some 15%. This comes after the company had a tough time following poor consumer demand in China. Budweiser APAC shed 16% of its workers last year, or 4,000 employees, out of a total of some 25,000 employees. The recent layoffs are set to hit China hard, with more than 80% of the company's employees. The reduction is part of overall initiatives by Anheuser-Busch InBev to tackle decreasing revenue and profitability in the region. Budweiser APAC has also named a new CEO, Yanjun Cheng, to take the company through these difficult times.

 

Source: Financial News Network