Coca-Cola Co. will step up its bid to transform the company into a far leaner operation under incoming Chief Executive Officer James Quincey after quarterly earnings missed estimates.
The soda giant vowed to cut costs by an additional $800 million a year, adding to a plan to wring $3 billion in savings. That will include 1,200 job cuts through 2018. The belt-tightening effort accompanies a move to spin off much of Coca-Cola’s bottling operations, one of the company’s biggest strategic changes in decades.
April 26, 2017 at 12:02AM
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