Newscasts - Beer maker Molson Coors to cut 9% of Americas jobs

Molson Coors Beverage Co

20/10/2025 18:42

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Source: 'Reuters - Business videos'

Description: 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. Rachel Faber reports.

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Video Transcript:

Beer maker Molson Coors said on Monday it would cut about 400 jobs or 9% of its salaried workforce in the Americas by the end of this year as part of a corporate restructuring plan. The move comes as US alcohol companies grapple with uncertainty, driven by cautious consumer spending amid inflation and volatility driven by US tariffs. The company said it will put more money into its core categories of beer, non-alcoholic beverages, and energy drinks. It expects the costs related to the restructuring will run $35 million and $50 million in the fourth quarter. The beer maker has local breweries in Colorado and houses brands such as Coors, Molson, and Miller. It 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 the aluminum it uses for cans.