At the end of last month, Molson Coors announced that it was restructuring and closing its offices in Denver and other places. This change could save the company up to 150 million dollars. Molson Coors is the parent company of Miller Coors. Although the company is laying off 500 workers, the restructuring will create some new white collar jobs in Milwaukee. Finance, human resources and other support services will consolidate and be based in Milwaukee. Milwaukee is the historic home of Miller beer.
Although some aspects of brewing will be in Milwaukee, the name Miller Coors will cease to exist. Instead it will become part of the North American division, headquartered in Chicago. Beside consolidating services and offices, the restructuring is part of a plan by Molson Coors Brewing to become Molson Coors Beverage company with a greater focus on products other than beer. Hard seltzer is on of the “new” company’s targets.
The loser in this plan is Denver. Coors has been a presence in Colorado for almost 150 years. The closing of the corporate offices will lead to 300 people losing their jobs. Colorado is facing this significant job loss as well as a loss of its corporate identity. The state remains second in craft brewing; California is first.
As the brewing industry seeks continued tax relief, perhaps federal legislators will call Molson Coors to task for laying off 500 people. If you want more information on Molson Coors, read here and here.