Coca-Cola Co. is cutting 2,200 jobs worldwide, including 1,200 in the U.S., as the soda maker deepens its restructuring efforts amid ongoing shutdowns of soft-drink friendly venues like movie theaters, bars and stadiums.
The reductions, involving a combination of voluntary buyouts and layoffs, will result in expenses of $350 million and $550 million, a spokesman said Thursday via email. Coke had about 86,200 employees at the beginning of the year, including 10,400 in the U.S.
“We are in the process of building an organizational structure that will address” customers’ needs and behaviors, the company said. “The pandemic was not a cause for these changes, but it has been a catalyst for the company to move faster.”