Coca-Cola Will Lay Off More Than 2,000 People

Coca-Cola Will Lay Off More Than 2,000 People Coca-Cola will lay off more than 2,000 people. The company announced that the layoffs were not related to the epidemic. Coca-Cola, the world's leading US beverage brand, announced that it will lay off 2,100 people on the grounds that it is reorganizing its business model. In the statement made by Coca-Cola, it was stated that these layoffs were not due to the coronavirus epidemic, but they served as a "catalyst" for the company to act faster. Coca-Cola will perform 1200 of the said layoffs in America. According to the information provided by an employee who has knowledge of the development, 2.5 percent of the company's total workforce will be subject to layoffs, voluntary leavers and forced layoffs. Stating that the replacement of the workforce will result in expenses of 350 million to 550 million dollars, the company officials said that the annual savings will be similar to this amount. Almost 500 of these layoffs will take place at Coca-Cola's headquarters in Atlanta. At the beginning of 2020, Coca-Cola had approximately 86,200 employees worldwide, 10,400 of which were in the USA.     This article has been contibuted by Bloomberg HT.