Coca-Cola to cut 4,000 jobs amid pandemic due to declining sales

Date:

Share post:

Coca-Cola is preparing to cut up to 4,000 full-time workers in part, due to declining sales during the COVID-19 pandemic. The company called the cuts “voluntary and involuntary” to staff.

The company hopes voluntary buyouts will reduce involuntary staff cuts.

“In order to minimize the impact from these structural changes, the company today announced a voluntary separation program that will give employees the option of taking a separation package, if eligible.” Coca-Cola said in a statement. “The program 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.”

The severance program is expected to range between $350 to $550 million dollars.

Part of the decline in sales has stemmed from entertainment venues, such as sporting stadiums, movie theaters, and restaurants which have seen a huge disruption due to efforts to mitigate the pandemic.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related articles

Public invited to attend Memorial for fallen Bradley Police Officer Thursday evening  

BRADLEY - A memorial for fallen Bradley Police Sergeant Marlene Rittmanic will be held this evening beginning at 6:30...

No injuries after Truck is fully engulfed in flames in Bradley 

BRADLEY - No one was injured this afternoon after a truck became fully engulfed in flames. According to Bradley Fire...

Bourbonnais Motorcyclist Dead after crash Tuesday tossed man 50 feet from Bike  

BOURBONNAIS - A local man has died after his motorcycle crashed last night. According to reports it happened on Route...

Bradley Gas Station robbed at Gunpoint Wednesday  

BRADLEY - A local gas station was reportedly robbed at gunpoint early this morning. According to Bradley Police it happened...