Coca-Cola Plans Layoffs
Beverage giant Coca-Cola is announcing a reduction in its workforce. The Atlanta-based soft drink company is trimming one percent of its total staff.
Coca-Cola says it plans to release roughly 750 workers in North America. About 25% of those cuts will be in the Atlanta area.
Dr. Bill Lastrapes, a professor of economics at the University of Georgia, says these layoffs come as the nation’s unemployment rate dropped last month:
“Maybe the timing [is off] a little bit, since we seem to be coming out of a recession.”
In a released statement, Coke officials say these job cuts will help the company be more efficient.
Lastrapes wonders if Coke’s decision is in response to market pressures:
“There’s been a lot of talk about obesity and weight problems and sugary drinks, and perhaps preferences are changing in such a way that Coke feels that it’s got to cut back on its workforce.”
The layoffs will be across the board, and Coke spokespeople say these ousted workers can apply for other positions within the company.
Those workers who leave for good will be given severance packages.