- Coca-Cola Co. reports it will cut between 1,600 and 1,800 jobs, or about 1% of its international workforce, starting yesterday and into the coming months, including positions at its corporate headquarters and North American operations.
- The move is part of a plan to cut $3 billion in annual costs through 2019, according to CEO Muhtar Kent in a statement October 21.
- The cuts come at a time when soft drinks sales are dropping internationally, in part due to concerns surrounding obesity and artificial sweeteners.
Coca-Cola has already tried other ways to offset its slumping sales, such as entering consumers' homes via soda machines like the upcoming Keurig Cold from Keurig Green Mountain, a company it now has a 16% stake in.
Coca-Cola has approximately 130,000 employees.