By Emma Rumney
LONDON, Feb 11 (Reuters) – Heineken on Wednesday said it would cut up to 6,000 jobs from its global workforce and set lower expectations for profit growth in 2026 than a year earlier, as the Dutch brewer and its peers face weak demand.
The job cuts amount to almost 7% of the 87,000-strong, global workforce at the world’s No.2 brewer by market value, which is searching for a new CEO following the surprise resignation of Dolf van den Brink in January.
The maker of Tiger and Amstel alongside its namesake lager has promised to deliver higher growth with fewer resources as it looks to assuage dissatisfied investors who say it has fallen behind on efficiency.
At the same time, sales across the sector are faltering amid strained consumer finances and more recent bad weather.
Rival Carlsberg has said it would cut jobs, while other beer and spirit makers are also cutting costs, selling assets and slowing production after years of slow sales.
Heineken’s shares were up 4% at 0818 GMT, having risen around 7% since the end of 2025.
PRODUCTIVITY DRIVE
Heineken said its productivity drive will unlock savings and reduce its global head count by 5,000 to 6,000 positions over the next two years.
“We really do this to strengthen our operations and to be able to invest in growth,” finance chief Harold van den Broek said on a media call announcing the company’s annual results.
Some of the cuts would be focused on Europe or non-priority markets offering fewer growth prospects, he said, and some would also result from previously announced initiatives targeting Heineken’s supply network, head office and regional business units.
PROFIT OUTLOOK LOWER
Along with weak demand, alcohol makers also face long-term threats like rising health warnings, competition from alternatives, and disruptions like weight-loss drugs.
Heineken expects slower profit growth for 2026 of between 2% and 6%, against the 4% to 8% growth it guided for in 2025. Carlsberg also predicted 2026 profit growth in the same range last week.
Heineken also reported forecast-beating annual organic operating profit, which grew 4.4% in 2025 versus analyst expectations for 4%.
Analysts said Heineken had also beaten forecasts on other measures like revenues, and welcomed the conservative approach the company has taken on guidance in a difficult environment.
“The guidance looks prudent, given the massive cost-cuts that are underway,” said Trevor Stirling, analyst at Bernstein, adding analysts on average currently predict 4.8% growth next year.
Outgoing-CEO van den Brink, who steps down in May, said there was no update on the brewer’s search for a successor.
(Reporting by Emma Rumney; Editing by Clarence Fernandez, Thomas Derpinghaus, Bernadette Baum and Elaine Hardcastle)
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