The pandemic battered Coca-Cola’s business, with revenue falling 11.4% to $33 billion in 2020. Consumer cravings for soft drinks and snacks at home failed to match the corresponding cratering of demand for Coke products in restaurants, movie theaters, and other public destinations, where the company traditionally makes about half its sales. Amid these societal changes, the Atlanta-based beverage company made some changes of its own; Coca-Cola in August 2020 announced plans to restructure its workforce to focus on its fastest-growing products (Tab and Odwalla drinks got the ax). That plan meant cutting more than 2,000 jobs through layoffs and buyouts out of an employee base of just over 80,000.
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Latest news for Coca-Cola
- RetailCoke rolls the dice, changes formula on Coca-Cola Zero SugarJuly 13, 2021 4:55 PM UTC
- LifestylePride logo, or no Pride logo? Companies still grapple with the meaning of being an LGBTQ+ allyJune 23, 2021 12:40 PM UTC
- EnvironmentCoke and Pepsi eye new sustainability goals after years of failed promisesJune 22, 2021 10:00 AM UTC
- SportsCoca-Cola loses $4 billion in market value after Cristiano Ronaldo shuns CokeJune 16, 2021 4:30 PM UTC