CNNMoney.com
Companies Economy International Corrections Pre-market Trading After-hours Trading Winners/Losers/Actives Bonds Currencies Commodities World Markets Money Magazine Real Estate Taxes Jobs Ask the Expert Money 101 Autos Mutual Funds The Help Desk Loan Center Best Places to Live Ask the Expert Ultimate Guide to Retirement Retirement Calculators Best Funds Best Places to Retire Fortune Brainstorm Tech Apple 2.0 Blog Big Tech Blog Sectors and Stocks Tech Talk Resource Guide Small Business Makeovers Questions & Answers Small Business Video 100 Best Places to Launch FSB 100 Fortune Small Business Fortune 500 Brainstorm Tech Investing Management C-Suite Rankings Main Create Portfolio Edit Portfolio Create Alerts Edit Alerts

Anheuser-Busch cuts 1,400 jobs

The move comes just a few weeks after InBev's $52 billion takeover of the Budweiser brewer.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Julianne Pepitone, CNNMoney.com contributing writer

beer.ce.03.jpg
The cuts represent about 6% of the company's total U.S. workforce.
Do you know anyone who has lost a job recently?
  • I have
  • A friend or family member
  • No

NEW YORK (CNNMoney.com) -- Budweiser brewer Anheuser-Busch InBev said Monday it will cut 1,400 U.S. jobs, about 6% of its total U.S. workforce.

The cuts come just a few weeks after InBev's $52 billion takeover of Anheuser-Busch Cos. on Nov. 18.

The Belgian brewer said 75% of the positions being cut are at corporate headquarters in St. Louis. More than 250 open positions will not be filled, the company said.

An additional 415 contractor positions will be pruned from the payroll, the company said. Most of the reductions will occur before 2009.

"To keep the business strong and competitive, this is a necessary but difficult move for the company," said David A. Peacock, the company president, in a statement.

The company said the reductions are in addition to the more than 1,000 U.S. salaried employees who took buyouts in a program that ended Nov. 14.

The program was part of a $1 billion cost reduction plan announced in June. At that time, Anheuser-Busch said it planned to cut its U.S. full-time salaried workforce to 10 to 15% by the year's end.

When InBev announced in July it would take over Anheuser-Busch, the company said it planned to save at least $1.5 billion annually. To top of page

Features
Markets Last Change
Dow Jones 10,359.12 -7.03 / -0.07%
Nasdaq 2,181.19 8.05 / 0.37%
S&P 500 1,100.86 0.94 / 0.09%
10-year Bond 99 7/32 Yield: 3.46%
U.S.Dollar 1 euro = $1.484 -0.021
December 4, 2009 2:34 PM ET
CompanyPrice% Change
Big Lots Inc 27.34 16.14%
OfficeMax Inc 12.43 13.41%
BlueLinx Holdings Inc 2.94 10.53%
Kelly Services Inc 11.40 9.93%
Dec 4 2:33pm ET †
More Galleries
Holiday gifts for the yoga nut These 7 small brands are helping fuel a booming yoga industry. More
Best of the L.A. Auto Show Fuel economy is the name of the game in Southern California. More
Are things really getting better? Last quarter, the economy grew by the largest amount since the summer of 2007, but there are signs that things are still getting worse. More
Sponsors

© 2009 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy
Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use.
MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc.
Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use.
Intraday data is at least 20-minutes delayed. All times are ET.
Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data.
Fundamental data provided by Morningstar, Inc..
SEC Filings data provided by Edgar Online Inc..
Earnings data provided by FactSet CallStreet, LLC.