The Coca-Cola Company said last week it is laying off 2,200 workers, as part of a larger restructuring aimed at paring down its business units and brands.
The Atlanta-based company said around half of the layoffs will occur in the United States, where Coke employs around 10,400 people.
The coronavirus pandemic has hammered Coke’s business, as sales at places like stadiums and movie theaters dried up due to lockdowns.
The downturn forced the company to accelerate a restructuring that was already underway.
Coke is reducing its brands by half to 200. It shed multiple slow-selling brands this year, including Tab, Zico coconut water, Diet Coke Fiesty Cherry, and Odwalla juices.
The company said it will use the savings to invest in growing brands like Minute Maid and Simply juices and fund the launch of new products like Topo Chico Hard Seltzer, Coca-Cola Energy, and Aha sparkling water.
The layoffs will not impact Coke’s bottlers, which are largely independent.