New York, Jan 9:
Coca-Cola has announced plans to lay off about 1,800 employees globally, in an effort to cut costs by roughly $3 billion.
“We have committed that we will ensure fair, equitable and compassionate treatment of our people throughout this process,” the company, which has some 130,000 employees worldwide, added.
Coca-Cola, which has been hit by declining consumption of carbonated beverages in the US, said in October that it planned to cut costs by $3 billion through 2019.
The company posted net income of around $6.3 billion for the first nine months of last year, down 7.5 percent from the same period in 2013, while net operating revenues fell nearly 2 percent to $35.1 billion.
Coca-Cola’s shares, which have climbed more than 8 percent over the past 12 months, were up around 0.8 percent Thursday in afternoon trading on the New York Stock Exchange.