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Coca-Cola shedding 2,200 staff because it pares manufacturers
The Coca-Cola Company has stated that it was shedding 2,200 staff, or 17% of its international workforce, as half of a bigger restructuring geared toward paring down its enterprise items and types.
The Atlanta-based firm stated on Thursday that round half of the layoffs will happen within the U.S., the place Coke employs round 10,400 folks. Coke employed 86,200 folks worldwide on the finish of 2019.
The coronavirus pandemic has hammered Coke’s enterprise, as gross sales at locations like stadiums and film theaters dried up as a result of lockdowns. Its income fell 9% to $8.7 billion within the July-September interval.
The downturn pressured the corporate to speed up a restructuring that was already underway.
“We’ve been challenging legacy ways of doing business and the pandemic helped us realize we could be bolder in our efforts,” Coke Chairman and CEO James Quincey stated throughout an earnings name in October.