The Coca-Cola Co. intends to give an unspecified number of people four days to decide if they want to take buyouts.
According to an internal company memo first reported by Beverage Digest, Coca-Cola is instituting a “voluntary separation program” as part of an effort to pare its North American workforce. Targeted employees will have to decide between Nov. 14 and Nov. 18 if they want to take buyouts to leave the company by March 15, 2023.
The plan comes as Coca-Cola’s North America Operating Unit prepares for a new president, Jennifer Mann. In advance of taking the helm of the unit on Jan. 1, she has met with employees, customers and others in the Coke supply chain, trying to identify operational inefficiencies, according to Beverage Digest.
Coca-Cola eliminated more than 2,000 jobs as part of a global reorganization in 2020. The company had a strong recent quarter, beating expectations with year-over-year revenue growth of 10%.