The damage Bud Light did to its brand reputation and its parent company AB InBev's bottom line apparently isn't over yet. This week, the beverage company announced plans to cut "hundreds" of employees as the Bud Light sales slump — caused by a boycott after the brand engaged transgender influencer Dylan Mulvaney to celebrate the biological male's first year of "womanhood" — continues to take a toll.
According to Forbes' layoff tracker, close to 400 jobs are being axed in AB InBev's bid to cut costs amid lagging sales through the normally lucrative summer months, amounting to "less than 2% of the company’s 18,000 U.S. employees."
2023 Layoff Tracker: Bud Light Maker Anherser-Busch Cuts Hundreds Of Jobshttps://t.co/X1FTS2AgEr pic.twitter.com/xfDkIjeEXt
— Forbes (@Forbes) July 27, 2023
CNN said the cuts would occur mostly among the company's "corporate staff" and reported that an AB InBev spokesperson characterized the cuts as a move to "simplify and reduce layers within its organization" that would not impact "brewery and warehouse staff, drivers, and field sales" employees.
The layoffs come after Bud Light lost its top-dog status for beer sales in the United States for the first time since 2001 to Modelo. As Townhall reported then, attempts to essentially give Bud Light away failed to turn the tide for Anheuser-Busch, and now more drastic measures have been taken affecting its corporate staff working in the company's offices in cities such as New York, Los Angeles, and St. Louis.
"While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success," Chief Executive Brendan Whitworth told The Wall Street Journal. "These corporate structure changes will enable our teams to focus on what we do best—brewing great beer for everyone."
The question remains, however: Will anyone buy what AB InBev is selling?
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