March 22, 2013

Coca-Cola cutting 750 jobs

The Associated Press

NEW YORK - Coca-Cola says it's cutting 750 jobs in the U.S. as it continues to streamline its business.

The world's biggest beverage maker says the job cuts will be across the board and that affected individuals will be notified in coming weeks. The cuts represent roughly 1 percent of the company's workforce of 75,000 in North America.

A spokesman says about a quarter of the cuts will be in Atlanta, where the company is based.

In a memo to employees last month, The Coca-Cola Co. noted that it had identified "areas that must be improved" since buying the North American operations of its largest bottler in 2010.

The memo also noted it was realigning its U.S. business into three geographies, down from seven, to reflect the structure in its food-service business.

For 2012, the company reported a 5 percent increase in net income, with global sales volume up 4 percent. Its drinks include Sprite, Minute Maid, Powerade and Dasani bottled water.

Coke's stock price rose 20 cents to close at $40.07 Thursday

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