Molson Coors to cut 400 jobs amid restructuring, profit outlook downgrade
The beer maker plans major workforce reductions and cost adjustments as it faces inflation and tariff-driven challenges.
USA – Molson Coors has announced plans to eliminate approximately 400 positions, or 9% of its salaried workforce in the Americas, by the end of 2025 as part of a corporate restructuring initiative.
The company said the move is designed to streamline operations and allow for reinvestment in its core categories; beer, non-alcoholic beverages, and energy drinks. It expects to record restructuring charges between US$35 million and US$50 million in the fourth quarter.
The move comes just a month after Goyal stepped up to the role of president and CEO from his previous post as chief strategy officer.
Goyal said: “We’ve made progress on our transformation journey, but given the environment, we must transform even faster. To win with our customers and consumers and return to growth, we must move with urgency and make bolder decisions.
“These are never easy decisions, 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.”
The restructuring comes as U.S. alcohol manufacturers navigate softer consumer spending amid inflationary pressures and volatile tariff costs.
Molson Coors, which operates breweries in Colorado and owns brands such as Coors, Molson, and Miller, reported a global headcount of 16,800 as of December 2024, according to its annual filing.
In August, the company warned of a potential decline in annual profit, citing tariff impacts on aluminum used in beverage cans. For 2024, net sales declined 0.6% year-on-year to US$11.63 billion, though net income increased 18.3% to US$1.12 billion.
Molson Coors now anticipates 2025 net sales to fall by 3% to 4% on a constant-currency basis, with underlying income before income taxes expected to drop between 12% and 15%. This marks a downgrade from its earlier forecast of a low single-digit decline.
The brewer also revised its earnings outlook, projecting underlying diluted earnings per share to fall 7% to 10%, compared with the previous guidance of a low single-digit decrease.
At the time, President and CEO Gavin Hattersley attributed the revised outlook to macroeconomic headwinds, weaker U.S. performance, and higher indirect aluminum tariff costs linked to Midwest Premium pricing.
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