LONDON, U.K.: Heineken said it would cut up to 6,000 jobs globally and lowered its profit growth expectations for 2026, as the Dutch brewer grapples with weak beer demand and mounting cost pressures.

The job cuts represent almost seven percent of the company's 87,000-strong global workforce, making it the world's No. 2 brewer by market value. Heineken is also searching for a new CEO following the surprise resignation of Dolf van den Brink in January.

The maker of Tiger and Amstel, alongside its namesake lager, has pledged to deliver higher growth with fewer resources as it seeks to reassure dissatisfied investors who argue it has fallen behind on efficiency.

Sales across the beer sector have been faltering amid strained consumer finances and more recent bad weather.

Rival Carlsberg has said it would cut jobs, while other beer and spirit makers are trimming costs, selling assets, and slowing production after years of sluggish sales.

Heineken's shares were up four percent at 0818 GMT, having risen around seven percent since the end of 2025.

Productivity Drive

Heineken said its productivity drive will unlock savings and reduce its global headcount by 5,000 to 6,000 positions over the next two years.

"We really do this to strengthen our operations and to be able to invest in growth," finance chief Harold van den Broek said on a media call announcing the company's annual results.

Some of the cuts would focus on Europe or non-priority markets with fewer growth prospects, he said, and some would also result from previously announced initiatives targeting Heineken's supply network, head office, and regional business units.

Profit Outlook Lower

Along with weak demand, alcohol makers also face long-term threats such as rising health warnings, competition from alternatives, and disruptions, including weight-loss drugs.

Heineken expects slower profit growth of two percent to six percent in 2026, compared with the four percent to eight percent it guided to in 2025. Carlsberg also predicted 2026 profit growth in the same range last week.

Heineken reported forecast-beating annual organic operating profit growth of 4.4 percent in 2025, compared with analyst expectations for four percent.

Analysts said Heineken had also beaten forecasts on other measures, such as revenues, and welcomed what they described as a conservative outlook in a challenging environment.

"The guidance looks prudent, given the massive cost-cuts that are underway," said Trevor Stirling, analyst at Bernstein, adding that analysts on average currently predict 4.8 percent growth next year.

Outgoing CEO van den Brink, who steps down in May, said there was no update on the brewer's search for a successor.