Brewing giant set to axe 5,500 jobs after takeover

Anheuser-Busch InBev expects to cut 3 per cent of its enlarged workforce in the three years afterits takeover of SABMiller as it seeks to maximise savings from the combination of the world’s largest brewers.

The reductions will be implemented gradually and in phases, the companies said in documents related to the acquisition published today. About 5,500 positions are likely to be eliminated, according to a person with direct knowledge of the matter.

The job cuts will form part of the $1.4 billion of annual savings that AB InBev has said it is seeking from the takeover, equivalent to almost a tenth of SABMiller’s $15 billion in annual revenue. Brewers of mass-market beer are trying to cut production and distribution costs as they lose market share tosmaller independent brands in Europe and North America. SABMiller last year doubled its own savings targets.