Coca-Cola Co (KO) said on Thursday it will lay off 750 people in the United States as the world's largest soft drinks maker streamlines its business three years after a big acquisition.
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The job cuts, which will be across the board, represent about 1% of the company's workforce of 75,000 in North America. About one-fourth of the cuts will be in Coke's home city of Atlanta, said a spokesman, confirming an earlier media report.
In a memo sent to employees last month, a copy of which was seen by Reuters, Coke said that since the integration of its North American bottling system in 2010, it has identified areas that must be improved.
"We must become a more aligned and unified North American group," the memo said. "That means improving our structures, processes and systems."
Shares of Coca-Cola, which operates in nearly all the countries of the world, were up 3 cents at $39.90 in morning trade.