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Coca-Cola Lays Off 17 Percent Of Global Workforce

December 18, 2020: 12:00 AM EST
The company said it is laying off 2,200 workers – half of which are in the U.S. – as part of a larger restructuring aimed at paring down its business units and brands. As of the end of 2019, Coke employed 86,200 people worldwide. The restructuring process was accelerated by the pandemic, causing sales at places like stadiums and movie theaters to dry up due to lockdowns. Revenue fell nine percent to $8.7 billion in the July-September 2020 period. The company is also reducing its brands by half to 200. The layoffs won’t impact Coke’s mostly independent bottlers.
Dee-Ann Durbin, "Coca-Cola laying off 2,200 workers as it pares brands", Associated Press , December 18, 2020, © The Associated Press
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