Coca-Cola announced on Friday a workforce restructuring plan that will include voluntary job cuts, CNBC reports. Shares of the beverage giant, which has a market value of US$210 billion, gained by 1 perccent in premarket trading. The company is forecasting that its overall global severance program will cost the company US$350 million to US$550 million. Coke’s global ventures and bottling investments divisions will be unchanged. Coke’s restructuring plan comes as the company streamlines its drink portfolio to focus on larger and more popular brands.

Source: The Standard August 28, 2020 13:30 UTC