said the planned restructuring would result in hundreds of layoffs across Canada,
USA and Latin America, but this is not the case
As part of the move, Canadian breweries and offices will be closed.
The brewer said Monday it plans to eliminate a total of about 400 full-time positions, or about nine percent of its workforce, across America by the end of December.
A company spokesperson said in an email that they do not provide detailed information.
by country or province currently.
The spokesman said the restructuring had nothing to do with the US trade war.
“No, this move is not due to tariffs,” she said. ”
This is part of a broader strategy to streamline operations in the Americas and reinvest in growth areas such as core brands, premium mixers, soft drinks and energy drinks.”
The company said the positions being cut include those that were already open as a result of role prioritization efforts undertaken earlier this year, as well as workers who may be eligible for voluntary separation.
“We have made progress on our transformation journey, but given the environment, we must transform even faster,” Molson Chief Executive Rahul Goyal said in a press release.
Goyal said the company will share more details about the strategy in the coming months.
Molson Coors said part of the plan is to “bring the right level of resources closer to consumers” as the company seeks to return to growth.
The Company is expected to incur expenses of $35 million to $50 million primarily related to cash severance and post-employment benefits in connection with the restructuring.
“Decisions are never easy, and I am grateful to those who are leaving for their many contributions, as well as to those who will continue to guide us on our path to growth,” Rahul said.
Canadian-American multinational corporation Molson Coors Beverage owns
Canada's oldest company since the closure of Hudson Bay. Although Molson Breweries merged with American company Coors Brewing in 2005, it remains partly Canadian owned and is now one of the largest beer producers in the world.
The company's history dates back to 1786, when North America's oldest brewery was founded in Montreal. First brewed in 1959, Molson Canadian remains one of the country's most iconic beer brands.
Molson Coors employs more than 2,500 people in Canada and has nine breweries across the country.
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