Coca-Cola Cuts Back on Employees, Operating Units and “Zombie Brands”

Coca-Cola plans to cut thousands of jobs and reduce its number of business units after a huge decline in sales since the pandemic. 

The companies reductions will be voluntary and involuntary. They will first offer buyouts to up to 4,000 employees, then the number of involuntary lay-offs will be dependent on the amount of people who take the buyout. This program will be administered in the US, Canada and Puerto Rico. 

Coke operating units will go from the current total of 17 operating businesses in four geographies to only nine. 

The company will be expanding their plant-based drinks and sparkling water brands, but kill some of their “zombie,” non-growing brands. 

On June 26, in the companies second quarter, they saw sales drop 28 percent to $7.2 billion.