(Reuters News) -Beer maker Molson Coors Beverage Company said on Monday it would cut about 400 jobs, or 9% of the workforce, across its Americas business by the end of December as part of a corporate restructuring plan for the unit.
Shares of the company were up about 1.3% in premarket trading.
The job cuts come at a time when alcohol companies in the U.S. are facing uncertainties from cautious discretionary spending by consumers amid inflation and tariff-driven volatilities.
The company will incur charges of $35 million to $50 million related to the restructuring in the fourth quarter, it said.
Molson Coors had forecast a drop in its annual profit in August, anticipating tariff impacts from the cost of aluminum it uses for beverage cans.
(Reporting by Juveria Tabassum and Prerna Bedi in Bengaluru; Editing by Shilpi Majumdar)
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