Report: Coca-Cola Co. To Cut Up To 1,800 Jobs

The Coca-Cola Co.

will cut up to 1,800 jobs in a cost-cutting measure, according to a report Wednesday. The Atlanta-based soft drink company unveiled a plan in October to cut $3 billion in annual costs in what it called an "expanded productivity program" aimed at countering faltering sales growth. On Wednesday, The Wall Street Journal said the plan includes cutting 1,600 to 1,800 jobs, with additional job cuts possible at a later date. The overall program also includes refranchising the majority of company-owned North American bottling territories by the end of 2017 and a substantial portion of the remaining territories by 2020. Coke, with about 130,000 employees, told the Journal it has begun notifying workers affected by the job cuts which are expected to be completed later this month. Coke traded recently at $43.17, up $0.18 cents.