NewsJanuary 31, 2003
Coca-Cola Co. to cut 1,000 jobs
The Associated Press ATLANTA -- Coca-Cola Co. said Thursday it will lay off 1,000 employees as part of an effort to streamline the beverage giant's North American operations. The cuts at Coca-Cola North America, Coca-Cola Fountain, Minute Maid Co., Odwalla and Danone Waters amount to 8 percent of the North American division's 12,000 employees and 3 percent of Coke's 30,000 workers worldwide...
The Associated Press
ATLANTA -- Coca-Cola Co. said Thursday it will lay off 1,000 employees as part of an effort to streamline the beverage giant's North American operations.
The cuts at Coca-Cola North America, Coca-Cola Fountain, Minute Maid Co., Odwalla and Danone Waters amount to 8 percent of the North American division's 12,000 employees and 3 percent of Coke's 30,000 workers worldwide.
Half the job cuts will be in Atlanta, where Coke is based. They will be completed by the end of March.
"This will make our North American business simpler in process, sharper in strategic focus, and more competitive in the market," chairman and chief executive Doug Daft said in a memo to staff.
Over the past several years, Coca-Cola has eliminated thousands of jobs, often to shave costs. In 2000, the beverage giant trimmed 5,200 employees.
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Shares of Coke fell $1.35, or 3.3 percent, to close at $39.20 Thursday on the New York Stock Exchange.
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