Ray & Washburn, CEO of Charter Holdings, has argued that the restaurant industry is on the verge of closing more permanently without more PPP money.
The Atlanta-based Coca-Cola Company on Friday announced a major global restructuring of its workforce, which will cut and buy thousands of jobs in the United States and Canada.
| Ticker | Security | The last | Change | Change% |
|---|---|---|---|---|
| Co. | Coca-Cola Company | Is 49.33 | +1.10 | + 2.28% |
| PEP | PepsiCo Inc. | 138.75 | +0.35 | + 0.25% |
The beverage giant said it would offer a voluntary split package to 1,000,000 employees working in the U.S., Canada and Puerto Rico to “reduce the impact” of structural changes. Were taken on or before 1, 2017.
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The company predicts that its overall global disintegration program will cost between 350 350 million and 50 550 million.
Coke has more than 86,200 employees worldwide, more than 10,000 of whom were in the United States.
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“We are on a multi-year journey to transform our organization,” Chairman and CEO James Quincy said in a written statement. “Changes to our operating operating model will change and grow our marketing and lead to closer implementation of customers and customers while prioritizing a strong brand portfolio and disciplined innovation structure. As we implement these changes, we will continue to grow our organization.” Which will involve a significant change in the composition of our workforce. “
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The company also announced that nine new divisions will replace 17 business units and focus on scaling new products to get rid of duplication of resources.
This spring 13 was the worst sign in Coke’s 134-year history, as the Covid-19 crisis shuts down theaters, restaurants and sporting events. The company derives about half of its sales from public events.
Second-quarter revenue fell 28% to 7. 7.2 billion and net income fell 32% to 8 1.8 billion from a year earlier.
Coke has more than 500 brands of drinks in more than 200 countries and territories. His portfolio includes Dasani, Minute Maid, Smartwater and Sprite.
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