Budweiser APAC to Cut Thousands of Jobs to Reduce Costs

Budweiser Brewing Co APAC Ltd. is planning to cut thousands of jobs this year as it looks to shrink costs, people familiar with the matter said, with the beer maker struggling with weak consumer demand in China.

The latest downsizing is part of the company’s plans to reduce operational costs by about 15% this year and comes after it cut 16% of some 25,000 employees last year, one of the people said. This year’s staff reduction would mean thousands more employees will depart the company after 4,000 were already cut last year, said the people, who asked not to be identified discussing private deliberations.