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March 27, 2020, 7:04 a.m. EDT

Molson Coors creates voluntary paid leave program, boosts on-site workers pay

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By Tomi Kilgore

Molson Coors Beverage Co. /zigman2/quotes/205165133/composite TAP -1.61% said Friday that it is withdrawing its 2020 financial guidance given uncertainties surrounding the COVID-19 pandemic, and created a voluntary paid leave program for April for employees whose work must be done on site. Those electing to participate in paid leave will be paid 60% of regular wages. The beer brewer said it has implemented a "thank you pay incentive" for employees whose work must be done on site, with hourly workers receiving an additional $5 per hour, including any overtime pay. Salaries workers will receive an additional $200 a week. Separately, the company said it was producing hand sanitizer at multiple craft breweries to support growing need from first responders. The stock, which was still inactive in premarket trading, has lost 28.3% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.20% has lost 18.8%.

/zigman2/quotes/205165133/composite
US : U.S.: NYSE
$ 37.81
-0.62 -1.61%
Volume: 1.07M
Aug. 13, 2020 4:03p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.37 billion
Rev. per Employee
$606,738
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/zigman2/quotes/210599714/realtime
US : S&P US
3,373.43
-6.92 -0.20%
Volume: 1.96B
Aug. 13, 2020 5:10p
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