Coconut water, juices, and premium water, among other “healthy” beverages, have been moving in on the soda industry, and the world’s largest beverage maker, Coca-Cola, is taking hit. The beverage giant announced a decline in sales during its first quarter, and as a result the company is planning to cut 1,200 jobs starting later this year, Business Insider reported.
The company says that the downsizing will occur among its corporate staff around the globe, which will be cut by 22 percent. Through the job cuts, the soda company says that it will save $800 million.
The job cuts also come as Coca-Cola plans to continue to restructure its business by marketing its brands like Smartwater, a bottled water brand with added electrolytes for “distinct taste.”
In addition to the layoffs, the company also plans to switch up its bottling process to independent operations in North America to save more money.