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AB-InBev to cut 1,400 jobs by year's end

(KWMU photo)

By Adam Allington/Associated Press

Saint Louis, MO – Brewing giant Anheuser-Busch-InBev announced today (Monday) that it will fire approximately 1,400 salaried workers by the end of the year.

The move comes on the heels of last month's official merger between AB and European brewer InBev.

Over 1,000 of the cuts will affect the company's St. Louis and Sunset Hills offices. An additional 415 contract positions will also be eliminated.

Severance pay and pension benefits will be assigned based on years of service.

The move comes in addition to the more than 1,000 salaried employees who accepted a voluntary retirement program earlier this year.

In a press released issued on Monday, A-B President David Peacock called the cuts a "necessary but difficult move."

When InBev announced its intent to acquire Anheuser-Busch in June they claimed the merger would create $1.5 billion dollars in cost savings annually.

St. Louis Mayor Francis Slay calls it a "very painful day" for the people who are losing their jobs and for the people who depend on them.

The St. Louis Agency on Training and Employment will offer Anheuser-Busch employees who are laid off help finding new jobs, going back to school or getting additional training. The agency will also help those who might want to start their own businesses.