Danish brewer Carlsberg on Wednesday reported a third-quarter net loss, and said it would slash about 2,000 jobs as part of measures to cut costs amid lower beer sales in Russia and China.
The net loss of 4,4 billion kroner (633 million dollars) compared to a net profit of 2.1 billion kroner in the same business period last year.
Sales in the quarter grew slightly to 18.3 billion kroner. A year ago they were 18.1 billion kroner.
The job cuts equalled 15 per cent of the brewer’s white-collar workforce.
Carlsberg said it would charge 10 billion kroner in restructuring costs and writedowns for the period 2015-17, of which 7.7 billion kroner were booked in the quarter.
The measures were aimed at lowering annual costs by 1.5 billion-2 billion kroner by 2018.
The brewer said Russia accounted for half of the restructuring costs, and that beer sales in the key market were not expected to improve for some years.
Lower demand and tough competition also affected its business in China where it booked 4 billion kroner in restructuring costs.