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Coca Cola set to cut thousands of jobs

26th Apr 17 9:53 am

Bad news for the firm…

The US drinks giant Coca-Cola has said it will be cutting around 1,200 jobs due to a falling demand in its famous fizzy drinks.

Coca-Cola said its global carbonated drink sales fell by one per cent in the quarter to the 31 March.

Coca-Cola sales have been hit as consumers in North America and Europe are walking away from sugary drinks.

The company said the cuts will begin in the second half of 2017 and are set to continue in 2018.

Coca-Cola also said it is looking at increasing its cost-cutting target by $800m in annualised savings, it expects to save $3.8bn by 2019.

The firm has also stated that it expects its full-year adjusted profits to fall between one and three per cent, this can be compared with the one to four per cent decline it forecast back in February.

Globally, Coca-Cola has 100,000 employees.

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