New York: Coca-Cola is planning to jobs globally as part of a restructuring. The company will cut 2,200 jobs as it prepares for a better post-pandemic market in 2021. This year, Coca-Cola reported a 33 per cent drop in third-quarter profits to $1.7 billion and a nine percent decline in revenues to $8.7 billion.
The move will impact 2.6 percent of Coca-Cola’s global workforce. It will eliminate 1,200 US and around 1,000 in other nations. Coca-Cola’s plans to restructuring also includes shuffling staff and slimming down of units. The company is expecting expenses of $350 to $550 million in global severance programs. Other US companies like Allstate, oil giant ExxonMobil, American Airlines and United Airlines have also announced sizable job cuts recently.