• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Bud Light maker Anheuser-Busch to lay off hundreds of employees, company says
Editor's Pick

Bud Light maker Anheuser-Busch to lay off hundreds of employees, company says

by July 29, 2023
by July 29, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Anheuser-Busch, the parent company of Bud Light, announced it will lay off 350 employees, many of them in corporate positions, as it seeks to recover from the fallout over a campaign involving a trans influencer.

In a statement, the company said the layoffs would affect less than 2% of its approximately 18,000 employees nationwide.

“Today we took the very difficult but necessary decision to eliminate a number of positions across our corporate organization,” Anheuser-Busch CEO Brendan Whitworth said Wednesday. “While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success.”

The layoffs will not include front-line staff members such as “brewery and warehouse staff, drivers, and field sales, among others,” the company said. The move was designed to “simplify and reduce layers within its organization,” it said.

Bud Light recently lost its title as the No. 1 beer in the U.S. to Modelo Especial after a campaign involving Dylan Mulvaney during the NCAA basketball tournament — and subsequent remarks by Bud Light’s brand ambassador — sparked a nationwide backlash.

Conservative media outlets and social media accounts were filled this spring with memes of users disposing of Bud Light in various ways. Last week, Florida Gov. Ron DeSantis announced his administration was considering legal action against Anheuser-Busch and its parent company, AB InBev, in response to the financial impact of the campaign.

AB InBev shares have declined about 11% since April.

Bud Light sales in the last week of June were down nearly 28% year on year, according to Nielsen IQ data cited by Bump Williams Consulting.

Whitworth, AB’s CEO, said last month that the company would continue to support the LGBTQ community. But Mulvaney said last month that AB never reached out to her after the backlash.

“For a company to hire a trans person and then not publicly stand by them is worse, in my opinion, than not hiring a trans person at all,” she said in a TikTok video.

Rob Wile

Rob Wile is a breaking business news reporter for NBC News Digital.

Austin Mullen contributed.
This post appeared first on NBC NEWS
You Might Also Like
  • Target says it will close nine stores in major cities, citing violence and theft
  • Surging AI demand could cause the world’s next chip shortage, research says
  • Klarna lands buy now, pay later deal with DoorDash, notching another win ahead of IPO
  • McDonald’s to close three CosMc’s locations — and open two more
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Biden faces potential new challenge from fellow Democrat in 2024 presidential race
next post
DeSantis hits back at ‘DC Republican’ Tim Scott over Florida slavery curriculum: ‘Speak the truth’

You may also like

Thousands of Southern California hotel workers begin strike

July 3, 2023

Improving the Experience of Both Employees and Customers

December 30, 2022

Skydance bid for Paramount hinges on Shari Redstone as special...

May 4, 2024

American recession fears spark selloff in international markets and point...

August 5, 2024

Caitlin Clark’s pro salary exposes an undeniable economic reality separating...

April 22, 2024

The great American jobs machine keeps revving in an election...

February 3, 2024

Family offices are giving top staff equity, profit shares in...

July 30, 2024

Linda Yaccarino, CEO of X, says she has autonomy from...

August 11, 2023

Disney tops quarterly profit estimates, but starts to lose Disney+...

February 5, 2025

CNN says 47.9 million people watched the presidential debate across...

June 29, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Summer box office bust? This season’s...

    May 9, 2024

    As Lionel Messi descends, Miami economy...

    July 26, 2023

    Home prices may be on the...

    September 2, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here