Molson Coors cuts 9% of US workforce as beer maker restructures

Beer maker Molson Coors Beverage Co. said Monday it will cut about 400 jobs or nine percent of its salaried workforce in the US by the end of the year as part of a corporate restructuring plan.

The company’s US workforce includes employees from the US, Canada and some countries in Latin America. CBC News has contacted a spokesperson to ask if any Canadian employees have been affected.

The move comes as US liquor companies grapple with uncertainties caused by cautious consumer spending amid inflation and tariff-driven volatility.

With the restructuring, Molson Coors said it aims to reinvest in its core categories of beer, non-alcohol beverages and energy drinks. A charge of $35 million to $50 million US is expected in the fourth quarter.

The company, which produces beer locally at breweries in Canada and the US and through domestic 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 decline in its annual profit in August, fearing a tariff impact from the cost of aluminum used for beverage cans.

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