AB InBev to cut 3% of workforce after merger

26th Aug 2016 11:24

(ShareCast News) - Belgian brewer Anheuser-Busch InBev said on Friday that its merger with SABMiller could result in thousands of job losses.According to documents related to the transaction, around 3% of the company's total workforce, or 5,500 jobs could be axed as AB InBev looks to make pre-tax savings of at least $1.4bn a year within the four years after the takeover completes.The company said on Friday that the job cuts would be "implemented gradually, in phases, over a three-year period" after the merger.AB InBev, which currently employs around 150,000, said the 3% figure does not include sales and front-office supply staff.Although there was no mention of where the job losses would occur in terms of regions, the documents revealed that the combined group's headquarters would be in Leuven, in Belgium, with global management in New York.At 1215 BST, AB InBev shares were up 0.4% to €112.25 while SABMiller was up 0.1% at 4,376p.