job losses
The number of active individual beer items sold at US retailers declined since February. Credit: MILLERCOORS LLC.

US-based brewing company MillerCoors has announced plans for 350 job losses across the company as part of its restructuring efforts.

The process was initiated due to decreasing sales over the last few years and a tough Q1 and Q2 in 2018. The company reported a fall in the number of active individual beer items sold at US retailers between February and August.

MillerCoors CEO Gavin Hattersley said in an email to distributors: “We are moving quickly and decisively to get our business back on track.

“We need the financial flexibility to invest in our brands and solutions at the right level.”

“To accomplish this, we know we need the financial flexibility to invest in our brands and solutions at the right level, quickly capitalise on new opportunities, and maintain a robust marketplace presence. Our current fixed cost base limits our ability to do all this.”

Of the total 350 positions, nearly 150 were already cut earlier this year. The company instead plans to offer a voluntary severance programme as part of its restructuring process, which initially began in 2013.

Hattersley further added: “We’re committed to handling this restructuring with speed, dignity and respect for all involved and without marketplace disruption.”

Since July, the company has been exploring new ways to support the business.  As part of these initiatives, a new leader was appointed to oversee the conversion of its breweries to an integrated system and also the production of Two Hats was ceased to divert resources to other parts of its portfolio.