Miller Brewing to cut jobs
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Consumer Industries Editor
CAPE TOWN Miller Brewing of the US, whose acquisition by South African Breweries last year formed the global brewing giant SABMiller, will cut about 200 corporate jobs and make strategic adjustments to "many others", it said in a statement on Monday.
Miller president and CEO Norman Adami said the move was not just about staff reduction but about multiple role and job changes.
The new structure of the group was intended to meet the company's turnaround goals and to create a smaller, more focused corporate structure.
"This is a difficult but very necessary decision to move our company forward and strengthen our organisation," he said.
This is the second round of retrenchments at Miller since SABMiller assumed control last July.
Cost-cutting initiatives were hinted at in SABMiller's latest annual report for the year to March, in which it reported that Miller's volumes of beer sold in the nine months to March this year, dropped by 3,7% and, in the US alone, by 4,5%.
Some of Miller Brewing's core brands have lost market share over a number of years.
SABMiller said work was being done to reposition the Miller trademark and strengthen sales and distribution.
Management had identified opportunities to reduce costs beyond the $50m of synergies described when the acquisition of Miller was announced.
Aug 13 2003 08:35:23:000AM Charlotte Mathews Business Day 1st Edition
Wednesday
13 August 2003
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