Coca-Cola to cut 1,200 jobs to lower costs
Beverage giant Coca-Cola plans to cut 1,200 jobs as it deepens its cost-cutting initiatives in response to slow soda sales, the company said on Tuesday. While the job cuts "will clearly be difficult for those impacted, these changes are critical for us", the company stated. Notably, the company reported a 20.3% fall in net income as against the year-ago period.