Soft drink giant Coca Cola announced that it will eliminate 1,200 jobs in the United States, 12% of its employees in nation, as part of 2,200 job cuts worldwide done as the company restructures its workforce, CNBC reports.
The company currently employs 10,000 people in the US and more than 85,000 around the world. It’s seen a 9% drop in sales during the pandemic, as people cut back on the consumption of soft drinks in the workplace and away from home.
The job cuts come after a previous round of layoffs in August, when the company offered financial incentives to 4,000 employees to volunteer for layoffs. Between the two rounds of layoffs, the company expects to spend between $350 million and $550 million on severance costs.