Hours after McDonald’s announced that it would terminate dozens of employees at its corporate headquarters, beverage industry giant Coca-Cola followed suit.
According to USA Today, Coca-Cola will lay off between 1,600 and 1,800 of its domestic and international corporate employees.
As with McDonald’s, the cuts reflect efforts to cut costs, with Coca-Cola’s program totaling approximately $3 billion. Previously, cuts had been estimated at roughly $1 billion. For McDonald’s, those job cuts were part of a $100 million program to save money and reorganize the business.
"We do not take decisions about job impacts lightly," Coca-Cola spokeswoman Ann Moore, said in a statement. "We have committed that we will ensure fair, equitable and compassionate treatment of our people throughout the process."