Beer manufacturer Molson Coors Beverage Company announced plans on Monday to reduce its workforce by approximately 400 positions, representing nine percent of its salaried employees in the Americas by the end of the year as part of a corporate restructuring initiative. The affected employees are based in the U.S., Canada, and select Latin American countries.
A company spokesperson clarified that the restructuring exclusively impacts salaried non-union staff throughout the Americas. However, specific details regarding the distribution of job cuts by country or region have not been disclosed, and the restructuring will not lead to the closure of any offices or breweries, the spokesperson confirmed.
The decision comes amidst challenges faced by U.S. alcohol companies due to uncertainties arising from cautious consumer spending influenced by inflation and tariff-related fluctuations. Molson Coors stated that the restructuring is aimed at redirecting investments into its primary product categories of beers, non-alcoholic beverages, and energy drinks. The company anticipates incurring charges ranging between $35 million and $50 million US in the fourth quarter as a result of this restructuring.
As of December 2024, Molson Coors had a worldwide workforce of 16,800 individuals, with local beer production facilities in Canada and the U.S., and popular brands including Coors, Molson, and Miller. The company had earlier projected a decline in annual profits in August, citing expected tariff impacts linked to the cost of aluminum used in beverage can production.
Following the recent appointment of Rahul Goyal as the new CEO, Molson Coors’ shares remained stable during early trading.