Coca-Cola offers early departures to 4,000 in North America
- 28 August 2020
Coca-Cola plans to offer voluntary separation to at least 4,000 employees to reduce its workforce amid changes in the soft-drink business, APA-Economics reports citing Bloomberg.
The company will initially offer enhanced benefits to workers in North America who agree to leave, according to a statement Friday. A similar programme will follow in other countries, the soda maker said, and there will also be an unspecified number of layoffs.
The move comes amid continuing challenges for companies selling sugary drinks as consumers cut back on calories. Bottled water also faces new hurdles amid growing environmental concerns.
Coca-Cola also said it plans to reorganise its business, including creating new operating units for regional and local operations that will work with category marketing teams. It expects the global severance programmes to result in expenses of about US$350 million to US$550 million.
Its shares rose 0.8 per cent in US premarket trading.