Beverages

A-B InBev Cutting 1,400 U.S. Jobs

Streamlining planned before takeover, company says
LEUVEN, Belgium -- Anheuser-Busch-InBev said it will cut 1,400 U.S. jobs, or 6% of its U.S. work force, as part of plans to streamline the beer company, according to a report by the Associated Press. The company said that three quarters of the jobs to disappear will come from Anheuser-Busch's North American headquarters in St. Louis, both at downtown offices and its Sunset Hills campus.

Anheuser-Busch-InBev said the job losses will help it save at least $1.5 billion a year by 2011.
Most of the job cuts will be made by the end of this year, it said.

The global [image-nocss] brewer said the job cuts were part of plans Anheuser-Busch announced in the summer, before it agreed to be taken over by Leuven, Belgium-based InBev, forming the world's largest brewer.

InBev completed its acquisition of Anheuser-Busch Cos. Inc. following approval from shareholders of both companies in mid-November. Under the terms of the merger agreement, all shares of Anheuser-Busch were acquired for $70 per share in cash, for an aggregate of $52 billion.

Anheuser-Busch became a wholly owned subsidiary of Anheuser-Busch InBev and has retained its current headquarters, which will also become the North American headquarters for the combined company.

The new company is geographically diversified, benefiting from a balanced exposure to developed and developing markets. The company manages a portfolio of more than 200 brands that includes global flagship brands Budweiser, Stella Artois and Beck's, multi-country brands Leffe and Hoegaarden and strong local brands Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Cass, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler, among others.

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