As of Thursday, March 21, 2013
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Gwinnett Daily Post
Coca-Cola Co said on Thursday it will lay off 750 people in the United States as the world's largest soft drinks maker streamlines its business three years after a big acquisition.
Coca-Cola Co. said on Thursday it will lay off 750 people in the United States as the world's largest soft drinks maker streamlines its business three years after a big acquisition.
The job cuts, which will be across the board, represent about 1 percent of the company's workforce of 75,000 in North America. About one-fourth of the cuts will be in Coke's home city of Atlanta, said a spokesman, confirming an earlier media report.
In a memo sent to employees last month, a copy of which was seen by Reuters, Coke said that since the integration of its North American bottling system in 2010, it has identified areas that must be improved.
"We must become a more aligned and unified North American group," the memo said. "That means improving our structures, processes and systems."
Shares of Coca-Cola, which operates in nearly all the countries of the world, were up 3 cents at $39.90 in morning trade.
More like this story
- Coca-Cola, bottlers reach deal on Glaceau brands distribution ( August 31, 2007 )
- Coca-Cola to invest $5.8B in Brazil through 2014 ( November 12, 2009 )
- Coca-Cola agrees to buy Vitaminwater maker Glaceau for $4.1B ( May 26, 2007 )
- Several Coke bottlers agree to drop suits over Wal-Mart delivery plan ( February 13, 2007 )
- Coke secret formula gets first new home since 1925 ( December 8, 2011 )
Comments
kevin 2 months ago
And Fortune magazine reports Coke as being in the top 50 best places to work! Some of those employees told me that they didn't even take a look at the places they cut. They just looked to find some money and sliced those departments without even looking to see what they did. One of the hardest hit was the advertising, graphic design departments. About 15 of their 18 departments were cut off with a phone call, not even a visit. Must be nice and safe up at the top of the ladder. Coke should certainly drop out of the top 50 best places to work, just because of they way they did this. Pepsi must be doing just fine.
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