Coca-Cola to Lay Off 750 Workers (KO)

Coca-Cola to Lay Off 750 Workers (KO)

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In an effort to streamline its business, the world’s largest beverage maker The Coca-Cola Company (KO) will lay off 750 workers.

The job cuts will be indiscriminate and across the board. About one-fourth of the lay offs will be in Atlanta, the company’s home city. The cuts represent 1% of the company’s total workforce of 75,000.

Since Coca-Cola’s integration of its North American bottling system in 2010, it has identified areas of the business that need improvement. The layoffs, according to a memo sent by Coke to its employees, will be one step in streamlining the business.

“We must become a more aligned and unified North American group,” the memo said. “That means improving our structures, processes and systems.”

Coca-Cola shares were up 31 cents, or +0.77%, during Thursday morning trading.

The Bottom Line
Shares of Coca-Cola Company (KO) have a dividend yield of 2.79% based on Thursday’s intraday trading price of $40.18 and the company’s annualized dividend payout of $1.12 per share.

The Coca-Cola Company (KO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

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