Coca-Cola's sales declined in the first quarter as it restructured its business, and the world's biggest beverage maker said it will cut 1,200 jobs starting later this year as it deepens its cost-cutting.
The maker of Fanta, Sprite and Smartwater said the job cuts will come from its corporate staff around the world. That would represent about a 22 percent reduction of its corporate staff of about 5,500, or a 1 percent reduction in its total workforce of 100,300 employees, according to FactSet.