Coca-Cola To Slash Up To 1800 Jobs

ATLANTA -- Coca-Cola Co. said it will cut as many as 1,800 jobs, or about 1% of its global workforce, in an effort to reduce costs amid slumping sales.

The layoffs follow Coke's announcement of a $3 billion cost-cutting program in October after posting a 14% drop in third-quarter profit. The world's largest beverage company has been struggling with sluggish international growth and a steady decline in soda consumption driven by mounting concerns over obesity and artificial sweeteners.

The first round of the 1,600 to 1,800 employees to lose their jobs was notified on Jan. 8 and more will be eliminated in the coming months, Coke said. The company had 130,600 employees worldwide as of December 2013, the most recent figure available.

The cuts will impact employees at Coke's corporate headquarters and North American operations, both in Atlanta, as well as its international units. Jobs in Coca-Cola's U.S. and global beverage bottling operations are not affected, according to the company.