Heineken expects EUR 135 million savings by the end of 2007
Like Molson Coors, like Heineken. Brewer Heineken expects to cut costs by EUR 135 million to EUR 155 million in 2007. It’s called the globalisation squeeze.
René Hooft Graafland, Heineken’s Chief Financial Officer, said in a media interview in March that Heineken still plans to meet its cost-savings target of EUR 450 million, or EUR 200 million on a net basis, by 2008. He explained that 55 percent to 60 percent of those cuts would be completed by year-end.
