BRIEFLY / CONSUMER PRODUCTS : Canada’s Molson to Slash Its Payroll

Molson Inc., Canada’s oldest brewer, said it will lay off 18% of its salaried employees and take a one-time charge of $24.2 million. The Montreal-based company has about 3,850 workers. “As part of our ongoing reinvention of Molson, these measures are a first step in achieving significant gains in productivity in our core domestic brewing operations,” Chief Executive James Arnett said. The company said last week that it would keep its underperforming National Hockey League team, the fabled Montreal Canadiens, but will consider selling some other non-brewing assets. Profit in Molson’s most recent quarter was offset by losses in its sports and entertainment business. Net earnings from continuing operations were $14.77 million in the quarter ended June 30, compared with $12.75 million in the year-earlier period. Sales nearly doubled to $452.35 million from $238.93 million.