If there was one thing Anheuser-Busch (BUD) was known for around its hometown in St. Louis, it was how well it treated its employees and how much it gave back to the community. And even as it gets leaner and meaner in preparation for its acquisition by InBev, it’s offering generous severance packages to the people it cans.
Today, A-B formally approved an “enhanced employee buyout program” which should reduce its salaried work force by roughly 10-15% (Reuters):
The revised program will provide enhanced pension and retiree medical benefits, as well as severance, to salaried employees who are at least 55 years old as of December 31, 2008.
For eligible participants who are among a group of about 360 key employees, the severance benefit will range from 15 months of base salary to double the sum of base salary and a target bonus. It will also include continuation of medical benefits.
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