Fizzle Out: Coca-Cola Slashing 1200 Jobs
Beverage giant Coca-Cola Co. (KO) Tuesday announced that it will be cutting 1,200 corporate jobs later this year as part of its cost-cutting strategy.
freepik
According to reports, Coca-Cola now employs about 100,300 workers worldwide, which means that the job cuts would represent about 1 percent of its total global workforce.
Coca-Cola expects the cost cutting measures will help to save an additional $800 million annually. Most of those savings are expected to be realized in 2018 and 2019, the company said.
Coca-Cola President James Quincey and newly appointed CEO announced the job cuts during the company's first-quarter earnings call with investors.
"We expect to see changes throughout our corporate organization, including Atlanta and elsewhere, as we fundamentally change the way we work to be faster, more agile and more efficient," said Coca-Cola spokesman Kent Landers. "While we don't yet know the exact impact in Atlanta, we expect it will be a significant percentage of the total." (dpa)
Other news from the department business & finance
Get the food & beverage industry in your inbox
From now on, don't miss a thing: Our newsletter for the food & beverage sector brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
