New CEO to Cut 8,000 Jobs as Heineken Feels Pandemic Effect

New CEO to Cut 8,000 Jobs as Heineken Feels Pandemic Effect
Heineken beer bottles are seen at a bar in Monterrey, Mexico, on June 20, 2017. Daniel Becerril/File Photo/Reuters
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BRUSSELS—Heineken plans to cut about 8,000 jobs, the Dutch beer group said on Wednesday, seeking to restore operating margins to pre-pandemic levels after a sharp decline in profit because of coronavirus restrictions.

The world’s second-largest brewer, which makes Europe’s top selling lager Heineken as well as Tiger and Sol, said it would save 2 billion euros ($2.4 billion) over the three years to 2023 under CEO Dolf van den Brink’s “EverGreen” plan.