Coca-Cola in crisis as company cuts more than a thousand jobs

Coca-Cola has announced plans to cut about 20 per cent of it corporate workforce, as the company battles a drop in sales due to falling demand for its sugary drinks. The US firm said it will cut 1,200 jobs starting later this year as it increases its cost-cutting target by $800m and is now expecting to save $3.8bn by 2019. This represents about a 22 per cent reduction of its 5,500 corporate staff or a 1 per cent reduction in its total workforce of 100,300 employees, according to figures by FactSet, cited by AP.
Read more: http://www.independent.co.uk/news/business/news/coca-cola-cut-jobs-1200-consumers-sugary-drinks-fizzy-sales-slump-a7706241.html?source=Snapzu