Anheuser-Busch (NYSE:BUD) stock is in the news today as the company’s employees are preparing for a strike amid rough negotiations.
Let’s get into everything investors in BUD stock need to know about the potential Anheuser-Busch strike below.
Anheuser-Busch Strike Details
- The employees planning to go on strike are part of the Teamsters union and are unhappy with current negotiations.
- Reports claim that Anheuser-Busch is seeking permanent layoffs of workers as it plans to close down several breweries.
- Teamsters union members are seeking a deal with Anheuser-Busch by midnight on Thursday or they will go on strike the following day.
- Teamsters Brewery Conference Chief Jeff Padellaro claims that this strike would result in the complete stoppage of beer production at all of the company’s 12 locations in the United States.
- However, Anheuser-Busch claims to have a “robust continuity plan in place” that will allow it to continue producing and shipping beer even if a strike does occur.
Investors will remember that Anheuser-Busch went through a rough period last year following protests over its partnership with Dylan Mulvaney. Shares of BUD stock took a beating at that time and are only just now starting to return to previous prices. This may mean that the company will work to reach an agreement with Teamsters to avoid any bad press that could come from the strikes.
BUD stock is down slightly as of Tuesday morning.
Investors looking for more of the most recent stock market stories are going to want to stick around!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
