Molson Coors to cut hundreds of jobs in restructuring plan

Core Insights - Molson Coors Beverage Company plans to eliminate approximately 400 jobs, representing about 9% of its salaried workforce in the Americas, as part of a corporate restructuring plan aimed at addressing challenges in the alcohol industry due to slower consumer spending and tariff-related issues [1][6]. Group 1: Corporate Restructuring - The job cuts are part of a broader strategy to transform the company and respond to the current market environment, as stated by the new CEO, Rahul Goyal [2][4]. - The restructuring will involve reinvesting in key categories, including the beer portfolio, premium mixers, non-alcoholic beverages, and energy drinks [4]. Group 2: Financial Implications - Molson Coors anticipates incurring charges between $35 million and $50 million in the fourth quarter, primarily related to cash severance payments and post-employment benefits [7]. - As of December 2024, the company employed approximately 16,800 people globally [9].