Coca-Cola to restructure its workforce, plans voluntary job cuts

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A forklift truck moves pallets of Diet Coke for shipment to a Coco-Cola bottling plant in Salt Lake City, Utah.Getty Images

Coca-Cola on Friday announced a workforce restructuring plan, which will include voluntary job cuts.The company said it would offer voluntary layoff packages to eligible employees, starting with approximately 4,000 workers in the United States, Canada and Puerto Rico who were hired on or before September 1, 2017. The layoffs voluntary walkers should stem the number of involuntary workers. layoffs that will follow.

Coca-Cola predicts that its comprehensive severance package will cost the company between $ 350 million and $ 550 million.

On the operations side, nine new units will replace 17 business units and focus on scaling up new products faster and eliminating duplication of resources. Coke’s global bottling business and investment divisions will remain unchanged.

Coke’s restructuring plan comes as the company streamlines its beverage portfolio to focus on bigger and more popular brands. The company plans to build new business units focused on regional and local levels that will work closely with five global marketing leadership teams, broken down by category.

Beverage categories include its eponymous brand of soda; sparkling flavors; hydration, sports, coffee and tea; nutrition, juice, milk and plants; and emerging categories. Heads of the global category will report to Coke’s Marketing Director, Manolo Arroyo.

Coke is also creating a new unit dedicated to efficiency and enhancing its global reach. The organization will address data management, consumer analytics and e-commerce and will work in partnership with its bottlers. Barry Simpson, Coke’s director of information and corporate services, will lead it.

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