Beverage giant Coca-Cola, on March 21, 2013, said that it will cut about 750 jobs from the United States. The company has taken the step so as to streamline its business, three years after it made a big acquisition.
The job cuts will be made effective across the board and represent about 1 percent of the workforce of the company. This amounts to 75,000 people, who might lose their job in North America alone. Reports say that about one fourth of the cuts will be made in the company’s home city of Atlanta.
The news of the job cuts were announced and confirmed by a spokesperson. A memo had been sent to employees last month and a copy of it has been circulated in the media as well. The company said that after the integration of its North American bottling system in 2010, it has identified areas which must be improved.
The memo mentioned, “We must become a more aligned and unified North American group” and went on to say, “That means improving our structures, processes and systems.” Coca Cola is a huge company which has its franchise across the globe. In the morning, the shares of the company, which operate in almost every country, were up by 3 cents at $39.90.