Bloomberg News reported on Thursday that Budweiser Brewing Co APAC Ltd (1876.HK) plans to cut thousands of jobs this year. The beer maker aims to shrink costs due to weak consumer demand in China.
According to the report, the Asia-Pacific unit of brewer Anheuser-Busch InBev (ABI.BR) plans to reduce operational costs by about 15% this year. One person familiar with the matter stated that this follows a cut of “16% of some 25,000 employees last year”.
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