Coca-Cola Co. KO 1.06% said it planned to lay off some employees and offer voluntary separations, affecting thousands at the company, as it reorganizes its segments in a reorientation of beverage strategy.
The beverage giant said on Friday that it is offering initial voluntary-separation packages to about 4,000 employees in the U.S., including Puerto Rico, and Canada who have a most-recent hire date on or before Sept. 1, 2017. Coca-Cola said it is also pursuing a similar move abroad.
The company didn’t specify the total number of employees it plans to let go, and a Coca-Cola spokesman declined to comment on the anticipated layoffs. It had more than 86,000 employees world-wide as of the end of last year, according to its annual securities filing. About 10,000 of those were employees in the U.S., it said.
The Atlanta company said it plans to establish nine new operating units under four geographical segments. Coca-Cola currently has 17 business units under four geographical segments, plus global ventures and bottling investments.