The latest Tweet by Bloomberg states, ‘Coca-Cola is offering voluntary buyouts to some of its staff in North America, joining the ranks of companies paring personnel costs in a cooling economy …’
Coca-Cola Co. is offering voluntary buyouts to some of its staff in North America, joining the ranks of companies paring personnel costs in a cooling economy.
The maker of Fanta sodas, Minute Made juices and Powerade sports drinks confirmed the plan, which was reported earlier by Beverage Digest. Coca-Cola currently employs about 6,000 people in North America, according to a spokesperson.
Coca-Cola, based in Atlanta, wouldn’t say which positions or how many jobs will be affected or eliminated. The company earlier this year announced the retirement of Alfredo Rivera, the president of its North America operating unit. Rivera will be replaced by Jennifer Mann, who currently heads global ventures, at the beginning of 2023. Rivera, a 38-year veteran of the company, led a recent restructuring of the North America unit, which included voluntary and involuntary separations.
The business has remained healthy in part by passing along costs to consumers and by marketing value-size packaging. Last week, Coca-Cola said its third-quarter sales and profit had surpassed expectations and the company increased its outlook, saying it expects organic revenue growth of 14% to 15% for the full fiscal year.
The shares have dropped less than 1% this year, compared with the 22% decline in the S&P 500 index.