酒业迈入降本增效周期：三大啤酒企业去年减员超千人，白酒公司高管集体降薪｜酒业财报观察

Core Viewpoint - The current adjustment period in the liquor industry shows contrasting trends between beer and liquor companies, with beer companies reducing staff significantly while liquor companies are expanding their workforce despite a general slowdown in performance [1][2][3]. Beer Industry - In the past year, beer companies have collectively reduced their workforce by over 6,000 employees, with major companies like Budweiser APAC and China Resources Beer leading the cuts [5][6]. - Budweiser APAC saw the largest reduction, decreasing from 21,181 employees at the end of 2023 to 18,401 by the end of 2024 [1]. - The overall decline in the beer industry is attributed to a drop in sales and revenue, leading to decreased demand for production and sales staff [8][9]. Liquor Industry - In contrast, the liquor industry has seen an increase in employee numbers, with 22 listed liquor companies collectively adding over 3,900 employees, bringing the total to over 174,000 [11][12]. - Major liquor companies like Kweichow Moutai and Yanghe Distillery increased their workforce by over 1,000 employees each [11]. - The increase in staffing is driven by production needs and a commitment to social responsibility, as many liquor companies are state-owned and are responding to government calls for job stability [12][13]. Salary Trends - While the overall workforce in the liquor industry is expanding, executive salaries have seen significant reductions, with many high-ranking officials experiencing pay cuts of hundreds of thousands of yuan [17][20]. - For instance, the chairman of Kuaizhou Moutai saw a drop in salary from 364.4 million yuan to 264.4 million yuan [17]. - In contrast, the average salary for non-executive employees in the liquor sector has remained relatively stable, with only a few companies reporting slight declines [22][24]. Future Outlook - The current adjustment phase in the liquor industry is ongoing, with expectations for further changes in cost management and employee compensation [24]. - Industry experts suggest that the liquor sector may face a turning point, indicated by market dynamics such as inventory control and pricing strategies [24].