Healthier Lifestyles Have Forced Coca-Cola To Cut 1,200 Jobs
Do you still enjoy the occasional sugary drink? Have you slowly reduced the amount of soda you consume in favor of a healthier lifestyle? If so, you may have inadvertently cost 1,200 people their jobs. Coca-Cola, one of the biggest brand’s in the world, has announced that they will be planning to cut about 20% of their corporate workforce as they continue to battle consumers’ falling demand for sugary drinks.
Business has slumped in the first three months of 2017 as global sales fell by 1%. The company has said that they expect adjusted profits for the year to drop between 1-3%. It previously forecasted a 1-4% decline back in February.
The cuts will take place later this year as the US firm increases its cost-cutting target by $800 million. By 2019, they’re now expecting to save $3.8 billion.
With a total workforce of 100,300 employees, the 1,200 job reduction represents a 1% reduction in total, but is 22% of its corporate staff number of 5,500 employees.
For many, leading a healthy lifestyle is a trend that’s not going away any time soon. People are more aware about nutrition and people are just generally more knowledgeable about what they should and shouldn’t put into their bodies. It’s good sign for consumer health, but bad news for Coke.