Coca-Cola too losing fizz in battle against COVID, around 4000 employees offered early exit

As part of its restructuring, the company, in a release, said that it will create new operating units that will focus on regional and local execution.

A truck with the Coca-Cola logo, behind left, maneuvers in a parking lot at a bottling plant. (File photo | AP)

Global soft drinks giant Coca-Cola Co on Friday stated that it would reduce its global workforce as part of its restructuring. 

The company did not provide any details on the number of jobs it plans to cut, but has initially offered voluntary separation packages to close to 4000 employees in Canada, the United States and Puerto Rico who, according to the company, have a most-recent hire date on or before September 1, 2017.  

A similar program will be offered in many countries internationally, Coca-Cola added. The voluntary program is expected to reduce the number of involuntary separations.

The overall global severance programs of the company are expected to cost between $350 million to $550 million.

As part of its restructuring, the company, in a release, said that it will create new operating units that will focus on regional and local execution. These units will work closely with five marketing category leadership teams that span the globe to rapidly scale ideas.