Beer maker Molson Coors Beverage Company will slash roughly 400 jobs, or 9% of its American salaried workforce, by the end of the year as part of a corporate restructuring plan, the company announced in a statement Monday.

The mass layoffs come as the Chicago-based brewing company announced in August that it expected net sales to tumble between 3% and 4% this year — blaming weaker beer demand and “indirect tariff impacts” on aluminum. 3

The company’s earnings before taxes were also projected to dramatically plummet between 12% to 15%, creating a bleak forecast for investors.

Molson Coors will reinvest in its core category of beer and expand its arsenal of premium mixers, non-alcoholic beverages, and energy drinks in the restructuring.

The brewery giant expects to be slapped

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