Word: coking
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...even all those spoonfuls of sugar in every glass of Coke will help thismedicine go down. Coca-Cola announced plans Wednesday to eliminate more than one fifth of its 29,000 global workforce, and its new chief warned analysts to lower their projected annual growth targets for the company. The axe fell on 3,300 U.S. jobs and 2,500 overseas positions as new CEO Douglas Daft sought to absorb the delayed impact of the global financial crisis of 1998-99, which had a dramatic impact on demand for U.S. soft drinks. "The key factor in the company's performance...
...Although the company's fourth-quarter performance was slightly better than predicted, Coke also announced that inventory cuts by its bottling company partners around the world would result in a one-time charge this year of between 11 and 13 cents a share. It would also cost the company some $800 million to handle the job cuts, which are expected to save the company $300 million a year. The Atlanta-based corporation also plans to decentralize its operations, bringing its management closer to the consumer in its various global markets. Atlanta was criticized last year for reacting too slowly...
...workers. He vows never to do that again, even if it means keeping his company leaner and meaner than seems necessary. "Laying off workers in a tough job market was the worst feeling in the world," he says as he sips his fourth Diet Coke of the day. "It made me physically...
Like the American people with New Coke, The Crimson has no intentions of treating it like the real thing...
...reporters in Atlanta, Daft struck a determined, confident note. The new millennium, he said "is the year of recovery for the world, and obviously our business will be part of that." The previous growth targets, Daft insisted, will be sustained. That made analysts nervous, because for all his attributes, Coke's new Doug was still sounding very much like the old Doug. Unless the tune changes, they say, the real value of this brand of carbonated sugar water is likely to be put to an even greater test...