Final Note

Labatt stops giving retirees free beer for life

Kai Ryssdal Nov 16, 2016
HTML EMBED:
COPY
Labatt is ending it's renowned tradition of offering retired employees free beer for life. Flickr
Final Note

Labatt stops giving retirees free beer for life

Kai Ryssdal Nov 16, 2016
Labatt is ending it's renowned tradition of offering retired employees free beer for life. Flickr
HTML EMBED:
COPY

I have joked a few times on this program about how I was gonna quit because I’d heard of a certain company offering a truly unparalleled retirement package.

Unfortunately, I don’t think I’ll be heading over to the Canadian Brewery, Labatt, anymore. They’ve ended their half-century tradition of a weekly allotment of free beer for life for its retirees, according to a report from CBC news.

Labatt is a subsidiary of Anheuser-Busch InBev, which, after a merger with SABMiller in late September — now owns 27 percent of the global beer market and makes more than $50 billion in annual revenue.

In a letter to employees, Labatt’s vice president attributed the end of the program to the overall rising costs of competitive benefits packages. 

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.