Coca-Cola cuts jobs, J.C. Penney closing stores

CNBC: Both companies are seeking to cut costs in 2015.

Share this article!


CNBC: Both companies are seeking to cut costs in 2015.

The soda-maker is laying off employees in an effort to streamline production.

The world’ largest soft drink company employs about 130,000 workers worldwide. The company has already started informing affected workers from its Atlanta corporate offices, its U.S. operations and international offices.

“We have committed that we will ensure fair, equitable and compassionate treatment of our people throughout the process,” Coke said.

Read more here.

Circumstances are a bit more dire for J.C. Penney: The retailer plans to close about 40 stores about April 4.

“We continually evaluate our store portfolio to determine whether there’s a need to close or relocate underperforming stores,” [spokesman Joey] Thomas said. “Reviews such as these are essential in meeting our long-term goals for future company growth.” …

Analysts have been calling for J.C. Penney, along with other retailers that they consider to have too many locations, to downsize their store counts. By shuttering underperforming stores, retailers are able to cut costs in an environment when more sales are taking place online.

Read more here.