Molson Coors Beverage Company announced plans to reduce its workforce in the Americas by approximately 400 jobs, representing around nine percent of its salaried employees by the end of the year as part of a company-wide restructuring initiative. The affected employees are from the United States, Canada, and select Latin American countries, specifically salaried non-union staff.
The restructuring will not lead to the closure of any offices or breweries, and the company has not disclosed a breakdown of the job cuts by specific regions. The decision aligns with current challenges faced by U.S. alcohol companies due to economic uncertainties stemming from cautious consumer spending influenced by inflation and tariff-related fluctuations.
Molson Coors aims to redirect resources into key product categories such as beers, non-alcoholic beverages, and energy drinks through this restructuring effort. The company anticipates one-time charges between $35 million and $50 million US in the fourth quarter as a result.
As of its most recent annual report, Molson Coors had a global workforce of 16,800 employees, with local beer production facilities in Canada and the U.S. under flagship brands like Coors, Molson, and Miller. The company had previously predicted a decline in annual profits due to tariff implications linked to the rising costs of aluminum used in beverage can manufacturing.
Following the recent appointment of Rahul Goyal as the new CEO, Molson Coors’ stock remained stable during early trading hours.