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Heineken (HEINY) is cutting 8,000 jobs and trying to «move beyond beer» after the pandemic hammered sales. The brewer of Moretti and Amstel said in an earnings statement on Wednesday that it will slash almost 10% of its global workforce and seek savings of €2 billion ($2.4 billion) over two years as part of an overhaul designed to improve efficiency. The restructuring will cost about €420 million ($509 million) and reduce head office staff costs by 20%. Regional offices and local operations will also be impacted. Read more here. Beachbody Company, which is recognizable for its fitness classes that can be done at home, is going public through a SPAC deal. Forest Road Acquisition Corp., a special purpose acquisition company aligned with former TikTok CEO Kevin Mayer, announced Wednesday it’s merging Beachbody and Peloton-rival Myx Fitness valuing the new company at about $3 billion. Myx makes at-home fitness bikes and streams classes, similar to Peloton. It’s trying to take advantage of Peloton’s delivery crunch, with the company promising buyers delivery time of just two weeks. The company will operate under the Beachbody name and trade under the Nasdaq symbol «BODY,» likely in the second quarter.
