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Coca Cola to cut 2,200 jobs worldwide in restructuring
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Associated Press
The Coca-Cola Co. said Thursday it’s laying off 2,200 workers, or 17% of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands.
The Atlanta-based company said around half of the layoffs will occur in the U.S., where Coke employs around 10,400 people. Coke employed 86,200 people worldwide at the end of 2019.
The coronavirus pandemic has hammered Coke’s business, as sales at places like stadiums and movie theaters dried up due to lockdowns. Its revenue fell 9% to $8.7 billion in the July-September period.
The downturn forced the company to accelerate a restructuring that was already underway.
Coca-Cola to lay off 17% global workforce as part of restructuring amid COVID-19 challenges
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Published in Food on 18-12-2020 Photo: pio3 / Shutterstock.com
Coca-Cola is restructuring due to the coronavirus pandemic. The number of brands and business units is decreasing. The reorganisation will cost 2,200 employees their jobs.
Belgium badly affected
The fall in sales during the corona pandemic is forcing Coca-Cola to restructure significantly: following the previous plan to voluntarily lay off 4 000 workers in the United States and Canada, there are now 2 200 more redundancies. In the United States, 1 200 jobs are being lost, some 12% of the entire workforce, but the remaining jobs are disappearing in international departments.
In Belgium, about half (95) of 191 jobs are lost. Nevertheless, the number of redundancies will be lower in reality, the soft drinks maker hopes, because there will also be new jobs for which current employees will be able to apply. Coca-Cola has branches in Anderlecht, Antwerp, Londerzeel, Hasselt and Heppignies.
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Highlights
The Coca-Cola Company has said that it was laying off 2,200 workers as part of a larger restructuring aimed at paring down its business units and brands.
The coronavirus pandemic has hammered Coke s business; Its revenue fell 9 per cent to USD 8.7 billion in the July-September period.
The downturn forced the company to accelerate a restructuring that was already underway.
Atlanta: The Coca-Cola Company has said that it was laying off 2,200 workers, or 17 per cent of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands.
The Atlanta-based company said on Thursday (December 17) that around half of the layoffs will occur in the US, where Coke employs around 10,400 people. Coke employed 86,200 people worldwide at the end of 2019.
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