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MILWAUKEE – The parent of MillerCoors LLC will relocate hundreds of office jobs to Milwaukee, a restructuring effort that will result in the loss of 400 to 500 employees throughout the company.

The number of jobs coming to Milwaukee is not yet known, a company representative said Wednesday. But Milwaukee Mayor Tom Barrett said there will be hundreds of well-paid white collar jobs.

Barrett, at a news conference from City Hall after the company's announcement, said that his administration and officials from Wisconsin Economic Development Corp. has worked with Molson Coors Brewing Co., the parent company of MillerCoors, with plans to move jobs to Milwaukee. [19659005] Kroger: Merchant lifts ban on Visa credit cards in Smith's and Food Co. stores

New phase, new name

The move will grow a workforce that has its roots in Miller Brewing Co., itself when the MillerCoors name is dropped.

MillerCoors will now be known as Molson Coors Beverage Co.

Miller Brewing was founded in Milwaukee in 1855, and was sold in 1970 to cigarette maker Philip Morris Cos. It was acquired by South African breweries in 2002, before it was merged with Coors Brewing Co. to form the MillerCoors joint venture in 2008.

MillerCoors is again owned by Molson Coors, which has a joint headquarters in Denver and Montreal.

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Job cuts on the road

Milwaukee's job change is linked to a Molson Coors plan to simplify the company's structure and cut costs.

The company will move from one business center and four business units to two business units: one for North America and one for Europe.

The North America business unit will fortify the US and Canada units and business center, the company said, and allow it to maneuver faster with its large brand layout.

Molson Coors will close the Denver office, and the MillerCoors Chicago office will be the North American operating headquarters.

As a result, support jobs located in several offices around the country will now be based in Milwaukee, the company said.

While it will be a win for Milwaukee, the consolidation will result in the loss of 400 to 500 employees throughout Molson Coors.

The company has about 610 corporate jobs and about 750 brewery jobs in Milwaukee, said Marty Maloney, chief of media relations.

The new positions should arrive in Milwaukee by July, he said.

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Miller Lite still in print

While the MilerCoors name is being dropped, Miller Brewing- The legacy lives on such brand names as Miller Lite and Miller High Life, Maloney said.

The consolidation plan was announced when Molson Coors reported revenue in the third quarter, which included revenue and revenue declines.

The restructuring and consolidation is designed to save $ 150 million that the company can reinvest in its business, which has been challenged by slowing growth and the growing number of craft beers.

"We can continue on the path we have been going for years now, or we can make significant and difficult changes that are needed to get back on track," said Gavin Hattersley, CEO of Molson Coors.

The company's brands include Coors Light, Molson Canadian and Milwaukee's Best.

Follow Tom Daykin on Twitter: @TomDaykin

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