Anheuser-Busch InBev (AB InBev) on Thursday denied a report that thousands of job cuts were planned for this year at its Asia-Pacific unit Budweiser Brewing Co.
Bloomberg reported on Thursday that Budweiser APAC – controlled by the world’s top brewer, AB InBev – was looking to cut operational costs by about 15% this year, including via thousands of job cuts.
This was reportedly planned on top of a 16% cut to the brewer’s 16% cut to its workforce of some 25,000 employees last year.
An AB InBev spokesperson told Reuters, “The news report about thousands of job cuts planned for Asia in 2025 is not true.
“We will continue our long-term investment in China.”
AB InBev reported forecast-beating fourth-quarter profits in February, though a 19% drop in volumes in China dragged on its performance.
The company’s portfolio of pricier beers has suffered amid a slow economy and low consumer sentiment.
Read More: Heineken Expands UK’s Inch Cider Brand With Alcohol-Free Option
