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By HRCrossing.com
Anheuser Busch Offers Early Retirement
By HRCrossing.com
As part of the buyout process, Anheuser Busch is cutting costs by way of early retirement options.
Out of 8,600 employees, 1,300 are 55 and older, for whom a new package has been assembled, offering 15 to 24 months base salary, target bonuses, and continued benefits.
Part of the group of 1,300 is company VP and CFO W. Randolph Baker, who, if he chooses to participate, could get a package worth $2.7 million dollars.
Overall, the program would cost $400 to $525 million in a one time, pretax charge over the third and fourth quarters. Cash expenditures are projected to be between $100 and $140 million.
Anheuser Busch was purchased by the Belgian beer maker, InBev, last month for $52 billion.
The company expects ten to 15% of eligible employees to choose the early retirement deal.
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