Downsizing at the world’s largest beverage manufacturer: More than 2,000 jobs are to be cut at Coca-Cola. The company speaks of restructuring.
Coca-Cola cuts 2,200 jobs worldwide. Most jobs, 1,200, are to be cut in the home country of the USA, as the beverage company announced on Thursday.
According to the group, the job cuts are part of the restructuring that was announced in August. According to the “Wall Street Journal”, Coca-Cola made severance offers to 4,000 employees in the USA and Canada in August. How many employees would have accepted is unclear.
Around 86,200 people work at Coca-Cola worldwide. With the cuts Coca-Cola wants to save 350 to 550 million dollars (450 million euros). The group has suffered significant sales losses due to the Corona crisis, mainly because restaurants and bars around the world had to close.
In the second quarter sales fell sharply, in the third quarter it also fell by nine percent year-on-year, to $ 8.7 billion. The profit from July to the end of September shrank by a third to 1.7 billion dollars, not least in the wake of the Corona crisis.