Coca-Cola is offering voluntary buyouts to about 4,000 people to reduce the number of layoffs it says will take place as it streamlines operations.
Coca-Cola is reducing the number of its individual business segments from 17 to nine, which it said Friday will result in “voluntary and involuntary” staff cuts.
The streamlining is taking place during a rough stretch for Coca-Cola and almost all companies that cater to social events.
Half of Coca-Cola’s sales come from stadiums, movie theaters and other places where people gather in large numbers — venues that have been closed during the coronavirus pandemic. Revenue tumbled 28% in the
Shares of
The initial round of offers will go to people working in
Expenses related to the severance programs are expected to be between about
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