Posted on 07/27/2023 11:45:06 AM PDT by BradtotheBone
Beverage giant Anheuser-Busch InBev announced it will lay off hundreds of corporate employees as sales of its flagship lager Bud Light falter.
In a statement to CNBC on Thursday, a company spokesperson said the job cuts affect less than 2% of U.S. employees. Anheuser-Busch has about 18,000 employees nationwide. The layoffs will include about 350 of those people.
The company said it will cut positions across every corporate function. Anheuser-Busch added the changes will “simplify and reduce layers within its organization.”
The layoffs will not affect employees such as brewery and warehouse staff, drivers and field salespeople, among others, the company added.
“While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success,” Anheuser-Busch CEO Brendan Whitworth said in a statement. “These corporate structure changes will enable our teams to focus on what we do best — brewing great beer for everyone and earning our place in the moments that matter.”
Bud Light sales have sagged following a conservative boycott over its March Madness partnership with transgender social media influencer Dylan Mulvaney. The company faced backlash from other consumers, and Mulvaney herself, over its decision not to defend the collaboration.
Amid the uproar, shares of Anheuser-Busch have dipped more than 2% this year, versus the S&P 500′s nearly 20% gain.
In May, Bud Light lost its top spot in the U.S. beer market to Constellation Brands’ Modelo. The brand held 8.7% of overall beer sales for the four weeks ending July 1, according to data shared by consulting firm Bump Williams. Bud Light had 7% market share during that same period, the data found.
(Excerpt) Read more at cnbc.com ...
I was going to ask for someone to post Monty Burns saying excellent…
ANd yet the freak behind the tanking pulls down 40 grand per speaking appearance.
The horse-faced girl? Does she really?
Here's PublicSQ's letter to the laid off Bud workers:
What I want to know is why does CEO Brendan Whitworth still have a job?
Anheuser-Busch InBev slated to become a niche/designer beer maker
That’s a fantastic letter. Someone there knows what they’re doing.
But what happens when teachers move on from trans being the cool thing to something else and their market drops from a million to 20?
Too bad they can’t conjure up 81 million consumers.
Per the O’Connor show this morning…
The CIA is a jobs program.
“Too bad they can’t conjure up 81 million consumers.”
Too bad the hundreds laid off won’t stop voting for Democrats pushing the transgender lunacy.
They know things are not coming back ...ever.
I wouldn’t drink the crap if it were free.
How sad.
People spent their entire lives with AB as workers and brewers. Now, just like that they have to find entire new careers and watch everything they worked for evaporate. Management decisions can be catastrophic to everyday workers. When you haven’t made a political stand in 40 years, why on earth would you choose ‘transgender-ism’ to be your first and likely last political statement.
Don’t believe that Bud Light is going to survive this, I doubt it will. It will be a very painful contraction followed by an attempt by InBev to put forth other ‘brands’ to fill the holes left by the destruction they just brought on themselves. Eventually, Budlight will just fade away, because it’s not going to recover from the stigmata now associated with it.
The good news for the Budlight marketing division is that it won’t be considered a Frat Beer anymore!!!
Yes!
It will be even more laughable if all the 350 discharged employees are DEI staffers and their “allies”. A fitting response considering how much trying to be “Woke” has cost the company.
If A-B really wants to say “sorry,” it will discontinue the Bud Lite brand entirely and, after a reasonable interval, come up with a completely new name, brand styling, and advertising campaign. Without patronizing or insulting former Bud Lite drinkers, the new brand will need to rebuild its market share.
Just focus on selling beer, not lifestyles or political stances.
I guess liberals drink beer too, occasionally.
If Dems could CHEAT the boycott, they surely would but they can't. Perhaps Soros could buy MILLIONS of cans of Bud Light, lol?
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