Overview
- The reductions equal about 9% of the company's salaried workforce in its Americas business.
- Molson Coors expects one-time fourth-quarter charges of $35 million to $50 million tied largely to severance and post-employment benefits.
- Management plans to reinvest savings into beer, non-alcoholic drinks, energy drinks and premium mixers to drive growth.
- The layoffs are set to be completed by the end of December, with no breakdown of affected locations and no clarity yet on the impact at the Chicago headquarters.
- Goyal, who became CEO on Oct. 1, is pushing faster transformation after softer sales and higher aluminum can costs pressured results.