18 July, 2008 - Coke Consolidated has announced 350 job cuts as a result of rising sweetener and fuel costs.
The move will see the North Carolina-based company, which is the second largest Coke bottler in the US, shed about 5% of its 6,500 workforce.
Around 35 jobs will be lost in its Charlotte headquarters while the rest will be made across its plants in nine states.
It was reported that most of the posts to be cut will be in management and it is believed it will cost the company between US$4-5 million.
Coke Consolidated said the job losses were necessary to boost efficiency and offset large increases in the cost of raw materials and fuel.
Chief Executive Frank Harrison was quoted as saying: “The past year has seen dramatic increases in the costs of goods and services required to make, sell and deliver our products. In order to remain a leader in the soft drink industry, we must continuously pursue new and improved ways of running our business.”