COKE TO SLASH 1,000 JOBS

Cost Savings to Be Put Toward Marketing

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BOSTON (AdAge.com) -- Coca-Cola Co. will slash 1,000 jobs, or 8% of its workforce, as it seeks to streamline operations in its North American units.

About half the layoffs will come in Atlanta, where to No. 1 soft drink company is headquartered.

Ad agencies not affected
A spokeswoman said the move would not affect advertising agencies, which include independents shops as well as those housed at Interpublic Group of Cos. and WPP Group. She said the move is designed more for efficiency than to save money, and that cost savings would be plowed back into the marketing of its brands.

The layoffs will occur over the next few months and address overlap among Coca-Cola North America, Coca-Cola Fountain, the Minute Maid Co., Odwalla and Danone Waters of North America. The company plans to streamline operations by combining marketing, information technology, human resources, finance, legal and administrative staffs across its units.

"This will make our North American business simpler in process, sharper in strategic focus and more competitive in the market," the company said. "We will strip complexity from our operations and enhance efficiency."

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