Anheuser-Busch InBev, the world's largest brewer, reported a 10.5% decline in U.S. revenue in the second quarter of 2020 due to a drop in Bud Light sales, which has slipped into second place behind Modelo Especial. The company attributed the decline to a conservative backlash against a campaign featuring transgender influencer Dylan Mulvaney. ABInBev is attempting to boost sales with new products and marketing campaigns, and remains optimistic about the future.
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Anheuser-Busch announced on Wednesday that it would be laying off 350 employees, mostly from corporate positions, in order to recover from the fallout of a campaign involving a trans influencer. The layoffs will not include frontline staff and will affect less than 2% of the company's 18,000 employees. The company is seeking to recover from the campaign and adjust to the changes, with the effects of the layoffs yet to be seen.