Coca-Cola set to cut up to 1,800 jobs worldwideJanuary 9, 2015 - 17:29 AMT PanARMENIAN.Net - Drinks giant Coca-Cola is set to cut up to 1,800 jobs worldwide as it continues cost-cutting efforts, according to BBC News. Coca-Cola reported a 14% fall in earnings for the July to September quarter last year and sluggish revenue growth. The job cuts will affect the firm's Atlanta headquarters, as well as its international operations. The firm said it had already started to inform those workers who will be affected by the cuts. "[We have begun] the process of informing associates in the United States and in some international locations about the impacts to their departments," a spokesperson from Coca-Cola said in an emailed statement to the BBC. The firm said further cuts would be made by different departments at various times. "We have identified 1,600 to 1,800 positions in Corporate, Coca-Cola North America and Coca-Cola International that will be eliminated in the coming months," the spokesperson said. Coca-Cola has a global workforce of about 130,000. In October last year, Coca-Cola's chief executive officer Muhtar Kent said the firm was aiming to save some $3bn in annual costs by 2019, which would include job cuts. At the time, Kent said he recognized the need for the company "to increase the scope and pace of change" as it continued to face a challenging economic environment. He said the firm was focused on "streamlining and simplifying" its operations and that it was proceeding with plans "for refranchising the majority of company-owned North American bottling territories by the end of 2017". Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday. European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. |