The Coca-Cola Company is planning to lay off 2,200 Jobs worldwide or 17% of the global workforce of the company, due to disruptions caused by the Covid-19 pandemic. Half of the jobs cut will be in the US where the employee strength of the company is 10,400.
As part of it’s restructuring plan, the Atlanta-based company aims to part down its business units and brands.
James Quincey, Coke Chairman and CEO, said during an earnings call earlier- “We’ve been challenging legacy ways of doing business and the pandemic helped us realize we could be bolder in our efforts.”
The total beverage company, with products sold in more than 200 countries and territories, portfolio of brands includes Coca-Cola, Sprite, Fanta and other sparkling soft drinks. It’s hydration, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. And it’s nutrition, juice, dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS.
Together with the company’s bottling partners, it employs more than 700,000 people worldwide.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.