About 1,000 employees sign up for Anheuser-Busch’s retirement program
Nearly 1,000 employees at Anheuser-Busch have signed up for retirement, the company said today.
The “enhanced retirement program” was one part of a cost savings program called Blue Ocean, announced earlier this year. As part of Blue Ocean’s goal of generating more than $1 billion in savings by 2010, A-B announced plans to reduce its full-time salaried work force in the U.S. by 860 to 1,290 jobs by the end of 2008.
With the strong response to its offer for early retirement — as well as jobs reduced through standard attrition – Anheuser-Busch indicated it was exceeding its cost-cutting goals.
The acceptance rate for the retirement program ”is ahead of what we expected,” Anheuser-Busch said in a statement. Applications for early retirement continued to roll in Friday afternoon, leading Anheuser-Busch to predict that the company would attract more than 1,000 participants.
Employees who signed up for the retirement program will receive an added three years of credited age and years of service, which could enhance their pension benefits and eligibility for retiree medical benefits. The program also offers payments equivalent to up to one year’s salary.
Despite swirling rumors to the contrary, the company said it had “not announced or made any additional changes to” its work force. It also said it did not anticipate making any further organizational announcements until after InBev buys the company.
Still, much hinges on InBev’s plans after the Belgian brewer buys Anheuser-Busch. That is expected to happen by the end of the year, and possibly within a week.
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Jeremiah McWilliams is a native Virginian who came to the Post-Dispatch in early 2007 to cover beer and other consumer products. He previously covered manufacturing for the Virginian-Pilot newspaper in Norfolk, Va. He is a graduate of Washington and Lee University. 
It’s all about the dollar folks. The Busch family knows that for a company to survive past the 3rd generation it must be sold. AB has been very lucky.
Yes they will make a tidy profit but, AB will survive. It might not be the same company that we all knew but, it will still be here.
Look back to the 70’s and 80’s there were Pabst,Schlitz,Strohs,Baltz just to name a few. They didn’t change and look where they are today.
The Busch family owns very little of the company. Who demands the higher profits? Stock holders do. This could be your neighbor or friend.
If you are really unhappy go buy a MillerCoors product.
Don S.