Cola
Coca-Cola cuts 2200 jobs: profits vs. social values
3 days ago | By Food Politics
Coca-Cola, according to an account in the Wall Street Journal, announced that it is cutting 2,200 jobs globally, including 1,200 in the U.S., as a result of the pandemic-induced closure of the places where its products are sold: restaurants, bars, movie theaters and sports stadiums.
The company expects to save $350 to $550 million annually as a result.
Let's put these savings in context. Coca-Cola brought in $37.27 billion in revenues in 2019.
For the company, the eliminated jobs mean “less decision making, less bureaucracy and ultimately less people.”
Corporations, as I have reported...
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