Molson Coors Beverage Company plans to cut 9% of its Americas workforce, about 400 roles, by December. Following Rahul Goyal’s appointment as CEO, the move aims to accelerate transformation for growth. The restructuring will incur charges of $35-50m in cash severance, with ongoing cash outflows expected.

The company recently announced restructuring following changes in its executive team, including the departure of its chief commercial officer. Goyal emphasized the need for “bolder decisions” to drive growth, aligning leadership and organizational structure for accountability and future success. The restructure aims to enhance reinvestment in priority brands and initiatives.

Molson Coors aims to focus on reinvesting in its core power brands like Miller Lite and Coors Banquet, as well as exploring related areas like premium mixers and non-alcoholic drinks. Following lower sales and earnings forecasts in August, second-quarter results showed declines in net sales, volumes, and operating income. Financial volume for owned brands fell by 7%.

Read more at Yahoo Finance: Molson Coors jobs to go as new CEO eyes “bolder decisions”