Coca-Cola to Lay Off 750 Workers (KO)
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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