Heineken Volumes Recover in Q3, But Plans Global Cuts in 2021

Dear Client:  Heineken’s third quarter results showed signs of recovery in this challenging year, but cost-cutting measures are still coming down the pike. The world’s second-largest brewer, which saw its volume decline only 1.9% over the quarter and global brand Heineken volume grow 7.1%, announced today that it will undergo a strategic review that “aims to accelerate a return to profitable growth in a fast-changing post-COVID world, including simplifying and right-sizing its cost base.” 20% CUT COMING TO PERSONNEL COSTS.