350 positions across MillerCoors are being removed as part of a series of moves from the brewer as it looks to get the business back on track following poor performances in its financial results and operations.
After several years of volume declines, including a tough first half of 2018, the reorganisation comes after the company admitted that its operations and cost base are now out of line with the scale of its business and increasing costs.
“We are moving quickly and decisively to get our business back on track,” chief Gavin Hattersley said today in an email to distributors. “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.
“While we know we still have some challenges ahead. We’re establishing a realistic, achievable plan for 2019 to put us on the path to long-term sustainable growth.”