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
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- RetailCoke rolls the dice, changes formula on Coca-Cola Zero SugarJuly 13, 2021 4:55 PM UTC