Coca-Cola will cut 1,200 jobs in order to save money as global demand for soda decreases…(4th Hack 10:25)

Friday, April 28, 2017
By Paul Martin

Coca-Cola Co announced they will cut 1,200 jobs in 2017 and into 2018
They also plan to increase cost-cutting budget by $800million
Coca-Cola and Pepsi have both taken hits as global demand for soda lessens

28 April 2017

Coca-Cola will cut about 1,200 jobs as the beverage maker expands its savings target amid falling demand for fizzy drinks globally.

The Atlanta-based company also said it was increasing its cost-cutting target by $800million in annualized savings and now expects to save $3.8 billion by 2019.

Coca-Cola and rival PepsiCo Inc’s soda sales have taken a hit as consumers in North America and Europe increasingly shun sugary drinks.

The majority of the additional savings would come from the corporate job reductions, incoming Chief Executive James Quincey said.

The company, which also reported a smaller-than-expected quarterly profit, said it expects to reinvest at least half of the $800 million saved to mainly boost growth in its non-carbonated drink business.

The Rest…HERE

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