Waterbury-based Keurig Green Mountain says it will cut its North American workforce by 5 percent, or 330 employees.
The company says the reduction is part of a program designed to generate $300 million in savings over the next three years.
The company said it is not yet prepared to share how many of the cuts will take place in Vermont.
Keurig made the announcement in conjunction with its third quarter earnings report, in which company revenues declined by 5 percent compared to the same quarter last year.
The company has experienced sluggish sales of Keurig 2.0 brewers.
Keurig says brewers and accessory sales declined 26 percent percent during the period.
The company also announced a $1 billion stock buyback program.
Shares of Keurig stock price fell more than 25 percent on reports of the sales decline.
