Coca-Cola To Cut 1,200 Jobs, Boosts Savings Target

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Coca-Cola Co (KO.N) said on Tuesday it would cut about 1,200 jobs as the beverage maker expands its savings target amid falling demand for fizzy drinks globally.

Shares of the Dow component were up marginally at $43.39.

Coca-Cola and rival PepsiCo Inc’s (PEP.N) soda sales have taken a hit as consumers in North America and Europe increasingly shun sugary drinks.


The job cuts would start in the second half of 2017 and carry into 2018, Coca-Cola said.

The company also forecast a smaller decline in 2017 adjusted profit than it had previously expected.
Coca-Cola said on Tuesday it expects full-year adjusted profit to fall 1-3 percent, compared with the 1-4 percent decline it forecast in February.

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