THE HAGUE, Netherlands (AP) — Dutch beer brewer Heineken said Wednesday it plans to cut 8,000 staff, nearly 10% of its global workforce, as part of a cost-cutting reorganization after a pandemic-dominated year that saw it sink to a net loss of 204 million euros ($248 million).
With bars and pubs around the world closed during coronavirus lockdowns and alcohol bans in some of its markets, Heineken sold 8% less beer than in 2019. Revenue fell nearly 17% to 23.8 billion euros.
CEO Dolf van den Brink described 2020 as “a year of unprecedented disruption and transition” for the brewer.
The company said that the pandemic “continues to have a material impact on our top-line performance, affecting all geographies and markets as governments across the world took measures to mitigate the contagion including restricted population movement, social distancing, outlet closures and temporary lockdowns of production facilities.”
Before you consider Heineken, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Heineken wasn't on the list.
While Heineken currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
