Coke will cut jobs soon throughout the U.S. despite continuing job growth, according to a March 21 report on Huffington Post. One percent of the nation's workforce for the company will be let go in the coming months.
A memo was sent last month by the Coca-Cola Co. that it learned about "areas that must be improved." The large soda manufacturer that also produces Sprite, Minute Maid, Powerade, and Dasani water, wants to consolidate their seven geographic locations down to three.
Coke has managed to maintain a good profit in 2013 "marked by continued uncertainty in the global economy." In 2012 the company had a five percent net income with a global sales volume up four percent.
On Thursday the company's stock price went up 20 cents to close at $40.07 Thursday.
Coke will cut jobs across the board among its 75,000 North American employees. Individuals affected by the layoffs will be notified soon.
Last year Coca-Cola added 900 U.S. workers to its staff.
According to CNN, Pepsi will cut 8,700 jobs by 2014 worldwide. Less that 2,000 workers will be impacted by the 106,000 employees who work in the U.S. for the company.