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× 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 that around half of the layoffs will occur in the US, where Coke employs around 10,400. Coke employed 86,200 worldwide at the end of 2019.
The coronavirus pandemic has hammered Coke’s business, as sales at places like stadiums and movie theatres dried up due to lockdowns. Its revenue fell 9 per cent to $8.7 billion in the July-September period.
The downturn forced the company to accelerate a restructuring that was already underway.
Coca-Cola laying off 2,200 workers as it pares brands
by Dee-Ann Durbin, The Associated Press
Posted Dec 17, 2020 5:29 pm EDT
Last Updated Dec 17, 2020 at 5:44 pm EDT
FILE - In this Oct. 14, 2019 photo a truck with the Coca-Cola logo, behind left, maneuvers in a parking lot at a bottling plant in Needham, Mass. The Coca-Cola Co. said Thursday, Dec. 17, 2020, 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. (AP Photo/Steven Senne, File)
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.
Coca-Cola laying off 2,200 workers as Covid hammers business
17 Dec, 2020 10:22 PM
2 minutes to read
Around half of Coca-Cola s layoffs will occur in the US. Photo / AP
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By: Dee-Ann Durbin
The Coca-Cola Co. said Thursday it s 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 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.
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 per cent to US$8.7 billion ($12.1b) in the July-September period.