Copyright Chicago Sun-Times
Molson Coors Beverage Co. on Monday announced it will cut 400 positions across the Americas by the end of December. The layoffs will eliminate about 9% of Molson Coors Americas’ workforce. “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,” CEO Rahul Goyal said in a news release, weeks after he took the helm on Oct. 1. Molson Coors didn’t immediately respond to requests for comment. It’s unclear what the impact of the restructuring will have on its Chicago headquarters, or where layoffs will happen in the Americas. The beer maker’s global headquarters is in Chicago, with about 400 employees, as of 2023. It’s the world’s fourth-largest brewer and has about 16,000 employees worldwide, according to the company’s website. In 2023, the company announced plans to move to a new office in BMO Tower at 320 S. Canal St. the following year, after downsizing from a larger space at 250 S. Wacker Drive. Molson Coors on Monday said it plans to focus on its beer portfolio and expansion into other categories, such as non-alcoholic beverages, energy drinks and premium mixers. Its brands include Coors Light, Miller Lite and Molson Canadian. The company expects charges of $35 million to $50 million related to severance payments and post-employment benefits in the fourth quarter. “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,” Goyal said. He has worked at Molson Coors for 24 years, most recently as chief strategy officer. In August, Molson Coors reported lower second quarter sales. Gavin Hattersley, then CEO, cited anticipated ongoing “macroeconomic pressures” and “higher-than-expected” indirect impact of tariffs on aluminum used to make cans, as well as other headwinds.
