The Coca-Cola Company has said that it was laying off 2,200 workers, or 17 per cent of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands. The Atlanta-based company said on Thursday that around half of the layoffs will occur in the US, where Coke employs around 10,400 people. Coke employed 86,200 people worldwide at the end of 2019. The coronavirus pandemic has hammered Coke s business, as sales at places like stadiums and movie theaters dried up due to lockdowns. Its revenue fell 9 per cent to USD 8.7 billion in the July-September period. The downturn forced the company to accelerate a restructuring that was already underway.
Coca Cola to cut 2,200 jobs worldwide in restructuring foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.
Associated Press
The Coca-Cola Co. said Thursday it’s laying off 2,200 workers, or 17% of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands.
The Atlanta-based company said around half of the layoffs will occur in the U.S., where Coke employs around 10,400 people. Coke employed 86,200 people worldwide at the end of 2019.
The coronavirus pandemic has hammered Coke’s business, as sales at places like stadiums and movie theaters dried up due to lockdowns. Its revenue fell 9% to $8.7 billion in the July-September period.
The downturn forced the company to accelerate a restructuring that was already underway.
Coca-Cola to lay off 17% global workforce as part of restructuring amid COVID-19 challenges firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
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Highlights
The Coca-Cola Company has said that it was laying off 2,200 workers as part of a larger restructuring aimed at paring down its business units and brands.
The coronavirus pandemic has hammered Coke s business; Its revenue fell 9 per cent to USD 8.7 billion in the July-September period.
The downturn forced the company to accelerate a restructuring that was already underway.
Atlanta: The Coca-Cola Company has said that it was laying off 2,200 workers, or 17 per cent of its global workforce, as part of a larger restructuring aimed at paring down its business units and brands.
The Atlanta-based company said on Thursday (December 17) that around half of the layoffs will occur in the US, where Coke employs around 10,400 people. Coke employed 86,200 people worldwide at the end of 2019.