Molson Coors plans to cut jobs
23.03.2008 03:07
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- Source: JS Online
Molson Coors Brewing Co., which plans to merge its U.S.-based Coors unit with Miller Brewing Co., said Thursday it plans to eliminate up to 390 jobs, or about 4% of its global work force, as part of a cost-cutting drive. It plans to outsource the duties to the technology company Hewlett-Packard Co. The cuts will be divided about evenly among the company's three operating divisions: Coors Brewing Co. in Golden, Colo., Coors Brewers Ltd. in England and Molson Inc. in Toronto, the company said. Miller Brewing is creating a joint venture with Coors Brewing. The new joint venture, MillerCoors, which still needs antitrust approval, is designed to cut costs and boost market share in order to better compete with Anheuser-Busch, the nation's dominant brewer. The cuts will be in human resources, information technology and finance. The company employs about 9,500 people worldwide. Its brands include Coors Light, Molson Canadian, Keystone and Blue Moon. Molson Coors spokeswoman Kabira Hatland said the cuts and a reorganization would allow the company to share human resources, IT and finance employees across its global divisions. The changes are part of an effort to save $250 million over three years. About 40 Molson Coors workers are expected to transfer to Palo Alto, Calif.-based HP, and up to 350 others will be laid off. Molson Coors said functions to be taken over by HP will be done in Canada, Costa Rica, India, Puerto Rico and Poland.
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