'Bud Light Maker Anheuser-Busch To Lay Off Hundreds Of Corporate Staff; Will Lay Off About 350 Employees, Of Its Corporate Staff, Across The U.S.' - CNBC
Portfolio Pulse from Happy Mohamed
Anheuser-Busch InBev, the parent company of Bud Light, announced it will lay off about 350 employees, or less than 2% of its corporate staff, across the U.S. The layoffs come as sales of Bud Light have fallen due to conservative boycotts over the company’s partnership with transgender influencer Dylan Mulvaney. The company is also under investigation by Florida Gov. Ron DeSantis over potential breach of shareholder duties related to the partnership.
July 27, 2023 | 5:27 pm
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Anheuser-Busch InBev is laying off corporate staff and facing backlash over a controversial partnership, which has led to falling sales of Bud Light and a government investigation. This could negatively impact the company's stock.
The layoffs, falling sales, and legal investigation are all significant issues that could negatively impact Anheuser-Busch InBev's stock. The company's response to these challenges will be crucial in determining the extent of the impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100