Bud Light parent announces layoffs in wake of brand’s woes
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Anheuser-Busch InBev, the parent company of beer brand Bud Light, announced Thursday that it would lay off several hundred workers as it attempts to recover from backlash to a sales campaign that included a transgender activist. Wp Get the full experience. Choose your plan ArrowRight The company will shed roughly 350 employees, a spokesperson told The Washington Post, less than 2 percent of its 18,000-person U.S. workforce. The cuts will come from corporate functions and will not affect brewing, warehousing or sales staff.
“While we never take these decisions lightly, we want to ensure that our organization continues to be set for future long-term success,” Anheuser-Busch chief executive Brendan Whitworth said in a statement.
Bud Light had long reigned as the country’s most popular beer with its iconic blue cans and buzzy ad campaigns. But it was dethroned by Mexican import Modelo in recent months, according to market research data from consulting firm Bump Williams.
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Sales of Bud Light had sagged since March, when promotions featuring transgender TikTok producer and activist Dylan Mulvaney upset some conservatives and led to a boycott. Anheuser-Busch InBev distanced itself from the ads amid the uproar, leading some liberals to eschew the brew, too.
The company’s stock is down 11 percent since the end of March; the S&P 500 is up 10 percent over the same period.
Conservative boycotts over LGBTQ+ sales campaigns have dented other major brands. Target in June pulled Pride Month merchandise and promotional materials from certain store windows after threats against employees spurred by online disinformation campaigns. The retailer’s stock has fallen 14.5 percent in the past three months.
The boycotts have become a major emphasis among certain influencers playing up perceived culture war issues.
“We can’t boycott every woke company or even most of them,” Matt Walsh, anti-LGBTQ+ commentator for the right-wing Daily Wire, tweeted in April. “But we can pick one, it hardly matters which, and target it with a ruthless boycott campaign. Claim one scalp then move onto the next.”
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Source: The Washington Post
