Coca-Cola is reorganizing, getting rid of thousands of jobs and the Odwalla line.
Lagging sales, partially due to shuttered restaurants and canceled events all over the world, have spurred a corporate restructuring at Coca-Cola. In addition to thousands of U.S. employees being laid off, their Odwalla line of beverages is another casualty of the COVID-19 pandemic.
Up to 4,000 American workers will be given the opportunity to resign with a severance package in an effort to minimize involuntary layoffs.
In a recent statement, the company had this to say about the business decision:
“We have been on a multi-year journey to transform our organization. The changes in our operating model will shift our marketing to drive more growth and put execution closer to customers and consumers while prioritizing a portfolio of strong brands and a disciplined innovation framework. As we implement these changes, we’re continuing to evolve our organization, which will include significant changes in the structure of our workforce.” —James Quincey, Chairman and CEO of Coca-Cola
Another aspect of the restructuring plan is the analysis and discontinuance of the Odwalla brand of smoothies and juices. Production of the entire line halted at the end of July.
Odwalla began crafting delicious, nutrient-rich beverages over 40 years ago. With great sadness, we share that our journey has come to an end, and the Odwalla brand is being discontinued. This difficult decision was not made lightly, and we remain forever thankful to our loyal consumers and team members. Your support throughout the decades has fueled the heart and soul of this brand.
For more information, view the official press release about these business decisions here.
Are you affected by any of these big changes at Coca-Cola? Is there an Odwalla item you are going to stock up on before they're gone forever? Let us know in the comments!