USA & Canada: Molson Coors to cut about 400 jobs in the Americas

Beer maker Molson Coors Beverage Company said on October 20 it would cut about 400 jobs, or nine per cent of its salaried workforce in the Americas by year end as part of a corporate restructuring plan.

The company's Americas workforce consists of employees in the U.S., Canada and certain countries in Latin America.

A spokesperson for the company told CBC News in an email that the restructuring "only applies to salaried non-union employees across the Americas."

The company is not providing a breakdown by country or province at this stage, and no offices or breweries will shut down as part of the restructuring, the spokesperson added.

The move comes as U.S. alcohol companies are grappling with uncertainties driven by cautious consumer spending amid inflation and tariff-driven volatilities.

With the restructuring, Molson Coors said it aims to reinvest in its core categories of beers, non-alcohol beverages and energy drinks. It expects to incur charges of $35 million to $50 million US in the fourth quarter.

The company, which produces beer locally at breweries in Canada and the U.S. and through house brands such as Coors, Molson and Miller, had a total of 16,800 employees globally as of December 2024, according to its annual report.

Molson Coors had forecast a drop in its annual profit in August, anticipating tariff impacts from the cost of aluminum it uses for beverage cans.

Shares of the company, which named insider Rahul Goyal as its new CEO just weeks ago, were flat in early trading.