Coca-Cola will cut about 2,200 jobs in its global workforce as part of a broader restructuring plan that was accelerated by the coronavirus pandemic.
In the United States, Coke will use layoffs and buyouts to eliminate about 1,200 jobs, accounting for about 12% of the workforce in its home market. The news was first reported by The Wall Street Journal.
At the end of 2019, the Atlanta-based company had 86,200 global employees. But the pandemic battered its revenue and raised costs for the beverage giant. About half of its sales typically come from consumers drinking its beverages away from home. In the third quarter, its net sales slid 9%.