Amid declining beer sales, Molson Coors, the maker of Coors Light, Miller Light, and Blue Moon, announced today that it will cut 500 jobs and rebrand itself to a “beverage company,” not just a beer one by rachsandl
: “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 the significant and difficult changes necessary to get back on the right track,” said CEO Gavin Hattersley in a statement.: The entire beer industry is seeing declining sales, even as craft and imported beers see growth.
to the Beverage Information Group. Molson Coors in particular has had a tough year, with net sales down by 3.2% year over year, according to the company’s Q3 earnings report released Wednesday.: According to the National Beer Wholesalers Association, Molson Coors is the second largest brewer in the U.S. by market share. The company holds 23.5% of the market, only behind Anheuser-Busch, which makes Budweiser, Bud Light and Stella Artois.
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