World:
Brewer AB Inbev expects thousands of job cuts in merger deal

The world's largest brewer, AB Inbev, says it expects to cut about 3 percent of its total workforce — equivalent to thousands of jobs — once it completes its huge merger with its closest rival, SABMiller.

The company headquartered in Leuven, Belgium, says it has about 150,000 workers while London-based SABMiller claims to have around 70,000.

That would put the estimated job losses at around 6,600. However, AB Inbev said Friday the estimate doesn't include its sales and front-office supply departments, for which integration plans are not completed.

It expects losses at SABMiller's current headquarters as the new company will be based in Leuven and New York.

The 79 billion-pound ($104 billion) merger deal has received backing from SAB Miller's board but awaits approval from the company's shareholders.

Source:   foxnews
Source Link:   foxnews

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