The “Business Insider” website shed light on the structure implemented by the giant beverage company “Coca-Cola” on its business in light of the emerging Corona virus crisis, which has ravaged the global economy.
The beverage giant, Coca-Cola, announced on Thursday that it will lay off 2,200 workers, as part of a restructuring aimed at curtailing its activities and brands. It said about 1,200 layoffs would occur in the United States, including 500 in Atlanta, where the company is based.
The number of Coca-Cola employees at the end of last year reached 86,200 people around the world, including 10,400 people in the United States.
The Coronavirus pandemic affected the company’s business, as sales plunged in places such as stadiums and cinemas due to the closure, and the company’s revenues decreased by 9% year-on-year to reach $ 8.7 billion between July and September of 2020, which forced the company to accelerate the restructuring process that It was already underway.
The Coca-Cola company is cutting its brands in half to 200, as it has abandoned several slowly selling brands this year, including Tab, Zico, Odwalla and Diet Coke Feisty Cherry.
It said it would use the savings to invest in growing brands like Minute Maid and Simply Juices and fund the launch of new products such as Topo Chico Hard Seltzer, Coca-Cola Energy and Aha sparkling water.
