Budweiser Brewing Co APAC Ltd. is planning to cut thousands of jobs this year as it looks to shrink costs, people familiar with the matter said, with the beer maker struggling with weak consumer demand in China.

Layoffs: Budweiser Brewing Co APAC plans to cut thousands of jobs in response to weak consumer demand in China, aiming for a 15 per cent reduction in operational costs.

Budweiser Brewing Co APAC Ltd is planning to cut thousands of jobs this year as it looks to shrink costs, Bloomberg News reported on Thursday, citing people familiar with the matter, as the beer maker struggles with weak consumer demand in China.

China will bear the brunt of the reductions as it accounts for more than 80 per cent of the group’s manpower

The world’s largest brewer’s sales were dragged by continuing weakness in China, but it gained market share in the U.S.

Budweiser Brewing Co APAC Ltd is planning to cut thousands of jobs in a move to shrink costs due to weakening consumer demand in China. China will also bear the brunt of the job cuts with it accounting for over 80% of the group’s workforce,