Global soft drink giant, Coca-Cola is set to cut 4,000 jobs in Canada, the US and Puerto Rico, as announced by the company on Friday.
Coca-Cola said its new strategic steps will “result in the reallocation of some people and resources.”
It revealed a “voluntary separation programme” that aims to lessen the number of “involuntary separations.”
“The programme, according to a statement, will provide enhanced benefits and will first be offered to approximately 4,000 employees in the United States, Canada and Puerto Rico, who have a most-recent hire date on or before Sept. 1, 2017,”
“A similar programme will be offered in many countries internationally. The voluntary programme is expected to reduce the number of involuntary separation.”
The programme is projected to decrease expenses by $350 million to $550 million.
Coca-Cola will also reduce its operational units from 17 to nine, saying “The changes in our operating model will shift our marketing to drive more growth and put execution closer to customers and consumers while prioritizing a portfolio of strong brands and a disciplined innovation framework,” said James Quincey, the company’s chief executive officer”.