(Reuters News) -Beer maker Molson Coors Beverage Company said on Monday it would cut about 400 jobs, or 9% of its Americas salaried workforce by this year-end as part of a corporate restructuring plan.
The move comes when 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 in the fourth quarter.
The company, which produces beer locally at breweries in Colorado and houses 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.
(Reporting by Juveria Tabassum and Prerna Bedi in Bengaluru; additonal reporting by Neil J Kanatt, Editing by Shilpi Majumdar)
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