Friday, April 28, 2017

Coca-Cola to cut 1,200 jobs as consumers turn away from sugary drinks...

Coca-Cola has announced plans to cut about 20 per cent of it corporate workforce, as the company battles a drop in sales due to falling demand for its sugary drinks.

The US firm said it will cut 1,200 jobs starting later this year as it increases its cost-cutting target by $800m and is now expecting to save $3.8bn by 2019.

This represents about a 22 per cent reduction of its 5,500 corporate staff or a 1 per cent reduction in its total workforce of 100,300 employees, according to figures by FactSet, cited by AP.

Global sales of Coca-Cola's fizzy drinks fell by one per cent for the first three months of 2017 as health-conscious consumers across the US and Europe are increasingly shying away from drinks with a high sugar content. Full story...

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