Coca-Cola restructuring cuts 2,200 jobs worldwide

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Coca-Cola is to cut about 2,200 jobs in its global workforce as part of a restructuring plan. The soft drinks giant’s restructure has been accelerated by the coronavirus pandemic which has seen the widespread closure of venues where Coke is sold.

The bulk of the layoffs will be in the US, where it will shed 1,200 jobs.

At the end of 2019, Coca-Cola had around 86,000 employees but faces pressure on its revenues which have been hammered by the pandemic.

Coke has responded to the crisis with plans to restructure its business and slim down its portfolio. The move will see the global drinks giant slash its 430 master brands by more than half to 200, to focus on products that are growing and can achieve a large scale.

The job losses do not affect employees at its bottling plants, most of which are independent.

These bottling operations employ hundreds of thousands of people around the globe.