Molson Coors Beverage Company (TAP) Announces its Restructuring Plan

Molson Coors Beverage Company (NYSE:TAP) is one of the Best 52-Week Low Mid Cap Stocks to Buy Now. On October 20, Molson Coors Beverage Company (NYSE:TAP) announced its corporate restructuring plan to create a more agile American Company and position it for future growth.

As part of this plan, the company aims to cut around 400 salaried positions from its American business by the end of December 2025. This would result in an estimated 9% reduction in the company’s total American salaried business workforce.

The restructuring is aimed at enhancing the company’s ability to reinvest in businesses and also aims to expand into other categories, including premium mixers, non-alcoholic beverages, and energy drinks.

The restructuring plan is expected to cost Molson Coors Beverage Company (NYSE:TAP) around $35 million to $50 million in the form of cash severance payments and post-employment benefits. President and Chief Executive Officer Rahul Goyal said:

“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.”

Molson Coors Beverage Company (NYSE:TAP) produces, markets, and distributes beer and other beverages across two main regions, including the Americas, EMEA, and APAC.

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Disclosure: None. This article is originally published at Insider Monkey.