Anheuser-Busch InBev (BUD) -) -- the international conglomerate behind Bud Light beer -- releases earnings next week, but the company revealed some big changes ahead of that announcement.
The company said it will cut "less than 2%" of its U.S corporate staff as part of a restructuring. AB InBev has more than 19,000 employees in the U.S., so about 380 positions are expected to be eliminated.
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“Today we took the very difficult but necessary decision to eliminate a number of positions across our corporate organization,” said Anheuser-Busch CEO Brendan Whitworth. “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 frontline staff like brewery and warehouse staff, drivers, and field sales, a spokesperson for the company told CNN.
The move comes as the company continues to battle the fallout from its ill-fated decision to hire Dylan Mulvaney -- a popular transgender social media influencer -- as a spokesperson.
Bud Light has dominated the U.S. beer market for decades, but a large section of the brand's fanbase decided to boycott the beer following the company's latest attempt to reach out to the LGBTQ+ community.
Bud Light has had numerous pro-LGBTQ marketing campaigns in the past, but Mulvaney's Bud Light can was apparently a bridge too far for the fanbase.
Bud Light is no longer the country's most popular beer as sales have fallen more than 20% year-over-year since customers began boycotting.
Modelo Especial was the United States' most popular beer during the Fourth of July holiday period after figures from Nielsen IQ data, provided by Bump Williams Consulting, showed that Bud Light sales dropped 23.6% year-over-year.
