Coca-Cola will cut about 2,200 jobs in its global workforce as part of a broader restructuring plan that was accelerated by the coronavirus pandemic. In the United States, Coke will use layoffs and buyouts to eliminate about 1,200 jobs, accounting for about 12 percent of the workforce in its home market. At the end of 2019, the Atlanta-based company had 86,200 global employees. About half of its sales typically comes from consumers drinking its beverages away from home. In total, Coke expects to spend US$350 million to US$550 million on severance costs.

Source: The Standard December 18, 2020 06:33 UTC