Coca-Cola plans 4,000 layoffs, as company announces global reorganization
Beverage giant Coca-Cola Company (NYSE: KO) plans to lay off 4000 employees. The company has announced strategic steps to reorganize the company for future growth. Coca-Cola will focus on new operating units both regionally and locally allowing them to work with global teams for new ideas. Voluntary severance packages will be offered throughout its workforce in the United States and Canada, as well as Puerto Rico. Due to the effects of the coronavirus it will prepare for a global severance program costing Coca-Cola up to 550-million-dollars for a global reorganization.
Coca-Cola suffered due to many entertainment centers including movie theaters that sell their soft drinks forced to close during the Covid-19 pandemic.