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Thursday, 30 January, 2003, 23:40 GMT
Coca Cola to cut 1,000 US jobs
Coca-Cola bottling plant
Coca-Cola has streamlined its operations around the world
Soft drinks giant Coca-Cola is to cut 1,000 jobs following the merger of three divisions in North America.

The world's biggest soft drink maker said Coca-Cola North America, Coca-Cola Fountain and its Minute Maid juice operation will be brought together in a new business unit.

The operations of its Odwalla drink unit and Danone Waters of North America also will be included in the restructuring.

The company said it expected half of the layoffs to be in Atlanta, the company's headquarters.

Turnaround

In an internal memo leaked to the media, Coca-Cola chairman and chief executive Douglas Daft said: "This will make our North American business simpler in process, sharper in strategic focus and more competitive in the market."

Coca-Cola shares fell $1.36, or 3.4%, to close at $39.20 on Thursday on the New York Stock Exchange.

The changes come amid signs of a turnaround for Coca-Cola in North America, its biggest market, after several years of sluggish growth.

It has been about three years since Mr Daft took over Coca-Cola and undertook a sweeping restructuring with thousands of layoffs in more than 200 markets around the world.

See also:

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