A colossal re-structuring which includes minimizing the workforce & employees and paring its operating divisions, have been planned by Coca-Cola.
17 existing business units of the company would be replaced with nine new ones, aspiring to increase pace to market and lessen duplication of resources.
Sparkling flavors, sodas, sports drinks, coffee, tea as well as nutritional juice and milk would be produced by the new units.
Coca-Cola will initially provide voluntary layoff packages to about 4,000 employees and then end the employment as per the requirements.
The firm has been severely affected by the COVID-19 pandemic, with 28% decrement in the revenue for the most recent quarter as compared to the last year. The earnings have also decreased by 32%. This can be ascribed to fall in foodservice and fountain drinks, where Coca-Cola does a higher percentage of business than its chief rival PepsiCo.