Heineken to cut 8,000 jobs following sharp profit declines in 2020
Food Marketing & Technology - India|February 2021
Heineken has announced that it will cut 8,000 jobs as part of its efforts to restore its operating margins to pre-pandemic levels.

The Dutch brewer saw its net revenue fall by 11.9% to €19.72 billion in 2020. Operating profit for the full-year was €2.42 billion, representing an organic decrease of 35.6% as all regions witnessed declines amid the Covid-19 pandemic.

Loss in operating profit was in particular driven by performance in Europe – due to on-trade closures – Mexico, South Africa and Indonesia.

Operations in Mexico were suspended throughout most of the second quarter, while South Africa experienced a Covid-related suspension of all alcohol companies in Q2 and a ban on the sale of alcohol. Indonesia suffered from lockdown impacts throughout most of the year and the absence of international tourism in the key Bali region.

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