MillerCoors is slashing jobs as Coors Light struggles and millennials ditch beer [MSN Money]
Molson Coors Beverage Company Molson Coors Brewing Company Class A (TAP.A)
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Company Research
Source: MSN Money
© REUTERS/Rick Wilking MillerCoors is slashing jobs as millennials ditch beer. Load Error On Tuesday, the brewer announced it was restructuring, eliminating roughly 350 salaried positions across the company. We are moving quickly and decisively to get our business back on track, MillerCoors CEO Gavin Hattersley said in an email to distributors, according to a news report on the company's website. MillerCoors acknowledged that the move comes after several years of declining sales by volume, as the company struggles to attract drinkers - especially millennials - during a beer industry slump. Beer consumption among drinkers from 21 to 24 has fallen roughly 3% per year over the last 15 years. Beer penetration fell one percentage point in the US market from 2016 to 2017, while both wine and spirits were unmoved, according to Nielsen data. And, global beer consumption per capita declined by 5.7% from 2012 to 2017, according to Euromonitor
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