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Molson Coors to close Denver office, consolidate offices, cut up to 500 jobs

The company is consolidating in two business units, North America and Europe, to save about $150 million.

DENVER — As net sales revenues decreased 3.2% in the company’s third quarter, Denver-based Molson Coors (NYSE: TAP) is rolling out a major revitalization plan, which includes consolidating offices into one North American branch, reducing up to 500 employees and moving all functional support roles to Milwaukee.

“Our business is at an inflection point. We can continue down the path we’ve been on for several years now, or we can make significant and difficult changes necessary to get back on the right track,” new CEO and president Gavin Hattersley said in a press release. “Our revitalization plan is designed to streamline the company, move faster and free up resources to invest in our brands and capabilities.”

The three-part revitalization plan includes investment in iconic brands and expanding in to “above premium" beer space, growing into non-beer categories and creating digital competencies for commercial functions.

The company, which previously had four business units, U.S. MillerCoors, Molson Coors Canada, Molson Coors Europe and Molson Coors International, is consolidating into two business units, North America and Europe, to save about $150 million.

> Continue reading this story at the Denver Business Journal.

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