Molson Coors Beverage Company announced Monday that it plans to eliminate about 400 jobs by the end of the year, as part of a sweeping corporate restructuring plan.
The cuts – which represent roughly 9% of the company’s salaried workforce in the Americas – come as alcohol companies across the U.S. face uncertainty amid slower consumer spending and tariff-driven volatilities.
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“We’ve made progress on our transformation journey, but given the environment, we must transform even faster,” Rahul Goyal, who became Molson Coors’ new CEO earlier this month, said in a statement. “To win with our customers and consumers and return to growth, we must move with urgency and make bolder decisions.”
Goyal added, “We are moving quickly and intentionally on a long-term, achievable strategy that continues our journey to become a total beverage company and that we believe puts us on the path to sustainable growth. We look forward to sharing more detail on this strategy in the coming months.”
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As part of the restructuring, Molson Coors will reinvest in key categories, including its beer portfolio as well as premium mixers, non-alcoholic beverages and energy drinks, according to a press release from the company.
The 400 job cuts include positions that were already vacant following earlier “role-prioritization efforts,” as well as workers who may accept voluntary severance packages, as noted in the announcement.
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Molson Coors expects to incur charges of $35 million to $50 million in the fourth quarter, primarily tied to cash severance payments and post-employment benefits, according to the company.
As of December 2024, Molson Coors employed about 16,800 people globally.
“These are never easy decisions, and I am grateful to those who will be departing for their many contributions and to those who will continue to guide us on our journey toward growth,” Goyal said.
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