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Copenhagen • Danish brewer Carlsberg says it will slash 2,000 jobs, or about 15 percent of its white-collar work force, after posting a $650 million loss in the third quarter due to poor performance in Russian and Chinese markets.
The loss reported Wednesday compared with a profit of $194 milion in the same period last year, and included special items of $1 billion, mostly impairment charges related to Carlsberg's brands in Russia and China.
Revenue was up slightly at $256 million, from $253 million kroner a year ago.
Launching a savings plan aimed at cutting annual costs by up to $280 million kroner by 2018, CEO Cees't Hart said Carlsberg acknowledges "that the profit development of recent years has not been satisfactory."