Molson Coors Beverage Co is set to cut 400 jobs in its ‘Americas’ business unit by the end of the year as part of a restructuring plan.
The move, which represents roughly 9% of the company’s salaried workforce in the division, includes roles already vacant through “earlier prioritisation efforts” alongside those impacted by a “voluntary severance” programme. Molson Coors expects to incur restructuring charges of between US$35m and US$50m, primarily related to severance and post-employment costs, with most expenses to be recognised in the final quarter of this year.
CEO Rahul Goyal, who began in the role at the start of this month, said the changes form part of the company’s broader transformation strategy to “move with urgency” and position Molson Coors for sustainable growth. “To win with our customers and consumers and return to growth, we must move with urgency and make bolder decisions,” he said.
The restructuring will refocus resources on Molson Coors’ priority brands and “must-win” categories, with the group planning to strengthen focus on its beer portfolio while investing further in ‘beyond beer’ segments, including premium mixers, no-alcohol beverages and energy drinks.
“These are never easy decisions,” Goyal added, “and I am grateful to those who will be departing for their many contributions and to those who will continue to guide us on our journey toward growth.”
Today’s news follows another bold move since Goyal’s appointment, having hinted that the CCO position is being phased out after the incumbent, Michelle St Jacques, prepares to leave the company next month.
Last week, Heineken unveiled similar plans, announcing a reduction of its head office headcount to the tune of around 400 positions.
