REUTERS - Coca-Cola Co plans to cut 1,000-2,000 jobs globally in the coming weeks, the Wall Street Journal reported, citing people familiar with the matter. A Coke spokeswoman said the company had informed employees that the restructuring would impact jobs, but she did not confirm the estimated number of job cuts. She said Coke was still figuring out how many jobs it would cut and employees in some eliminated positions would be allowed to apply for other jobs in the company. Coke is also introducing stricter budgeting such as asking executives to swap limousines for taxis, and has canceled its Christmas party for Wall Street analysts, the Journal reported. Atlanta-based Coke's shares were up 1.7 percent at $43.08 in late afternoon trading on the New York Stock Exchange.

Source: Daily Nation May 23, 2024 04:18 UTC