The job cuts will scale back on the company’s 1% of jobs in its North American division. Coca Cola spokesman, Scott Williamson, said that a quarter of the cuts will affect their Atlanta division, where the company’s headquarter is located. Muhtar Kent, Coca Cola’s CEO, has been restructuring the company’s distribution channels in the U.S since he assumed ownership of CCE (Coca Cola Enterprises Inc) operations in North American in 2010. Paring distribution regions they said would scale back on costs and improve efficiency.
Last month, employees received a memo noting that the company had singled out on ‘areas that must be improved.’ The paring of its distribution regions seems to have already worked for the company’s profit streams, with their stock prices rising by 20 cents up 1.3% to about $40.37 yesterday.