There's 'obviously a mismatch' between Anheuser-Busch's market value and their employee numbers, former company exec Anson Frericks says while predicting more layoffs are coming.
The company announced that its U.S. revenue dropped 10.5% in the second quarter, while its earnings before taxes, interest and depreciation fell 28.2%.
Bud Light's parent company Anheuser-Busch's best recovery strategy starts by apologizing to those they called"fratty and out-of-touch," says former president of operations Anson Frericks. The second quarter covered April through the end of June and offers the first look at the damage caused by the Bud Light boycott, which began in April"Right now they said they've only laid off about 2% of their staff. Yet you've seen that their sales are down over 15%, their volumes down 15%, that's all brands that they have," Frericks pointed out. "So there's obviously a mismatch there.
Frericks doubled down on his assertion made on "Varney & Co." last week — that current Anheuser-Busch CEO Brendan Whitworth
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