Coca-Cola Streamlines With Significant Job Cuts

12 Jan 2015 --- Soft drinks giant Coca-Cola has announced up to 1,800 job cuts that will affect workers in its Atlanta offices as well as other locations in the US and around the world.

The announcement came as Coca-Cola says it is looking at various ways to streamline its business and plans to cut costs by up to $3bn a year.

The company has over 130,000 employees worldwide and a vast portfolio, including its classic Coke range, but also Sprite, Powerade, water brands such as Dasani and VitaminWater, a juice company Simply and it recently announced it is to enter the premium milk market with its Fairlife Milk brand.

The soft drinks industry has been under fire for many years for the high sugar content of its products and Coca-Cola has been at the forefront of this backlash, which, critics say, is central to the world’s obesity epidemic. Brands such as Coke have been working hard to maintain their image and to introduce more healthy alternatives, in the face of falling soft drinks sales and warnings of soft drinks taxes in many countries.

The company said last month it expects earnings growth of 4 percent to 5 percent for 2014, which is short of its long-term target. Coca-Cola said it doesn't expect earnings growth for this year to be much different.