Denver — Molson Coors Beverage Company revealed on Monday that it will undergo a restructuring, which includes cutting around 400 salaried positions. This move affects about 9% of its salaried workforce in the Americas.
The brewery, based in Golden, Colorado, stated that this strategy is meant to foster a more streamlined and flexible organization. The goal is to enhance their capacity for reinvestment and pave the way for future growth.
These layoffs are expected to be finalized by December 2025 and will involve several roles, including those that were prioritized earlier this year. Some employees will also be departing voluntarily as part of this restructuring.
“While we’ve made strides in our transformation, the current environment pushes us to accelerate that process. To excel with our customers and regain growth, we need to act more decisively,” commented Rahul Goyal, the president and CEO. He added, “We’re committed to a long-term strategy that we believe will steer us towards becoming a comprehensive beverage company, aiming for sustainable growth.”
The company is looking to focus not just on beer, but also on expanding into areas like premium mixers and non-alcoholic drinks.
Molson Coors anticipates incurring costs ranging from $35 million to $50 million during this restructuring, primarily tied to severance and retirement benefits.
“Making these decisions is never easy, and I appreciate all those who have contributed and are moving on, as well as those who continue to support our growth efforts,” added Goyal in the announcement.
In its recent financial briefing, Molson Coors reported a 4% decrease in sales volume for its Americas brands and a decline of 2.6% in net sales. They also provided a cautious outlook for the remainder of the year, projecting a 3% to 4% drop in net revenue growth.
The company did not specify which positions would be eliminated or the locations of these roles beyond the Americas.
Currently, Molson Coors employs around 16,000 people globally, with just under 850 working at the Golden Brewery, which is still hiring.
