Coca Cola to cut 750 jobs in US
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Coca-Cola says it's cutting 750 jobs in the US as it continues to streamline its business.
The world's biggest beverage maker says the jobs cuts will be across the board and that affected individuals will be notified in coming weeks. The cuts represent roughly 1 per cent of the company's workforce of 75,000 in North America.
A spokesman says about a quarter of the cuts will be in Atlanta, where the company is based.
In a memo to employees last month, The Coca-Cola Co. noted that it had identified "areas that must be improved" since buying the North American operations of its largest bottler in 2010. The memo also noted it was realigning its US business into three geographies, down from seven, to reflect the successful structure in its food-service business.
Coca-Cola has noted that it managed to deliver profit growth in a year "marked by continued uncertainty in the global economy."
For 2012, the company reported a 5 per cent increase in net income, with global sales volume up 4 per cent. Its drinks include Sprite, Minute Maid, Powerade and Dasani bottled water.
Coke's stock price fell 1 cent to USD 39.86 in morning trading.
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