Tech & Biz

Coca-Cola announces hiring freeze

by julianw | July 13, 2008 at 02:48 pm

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Squeezed by the weak American economy, Coca-Cola has imposed a temporary hiring freeze in the United States. The company recently cut its outlook for the quarter, citing a decline in the popularity of 20-ounce pop bottles as the chief reason for its pessimism.

The freeze was first reported by a beverage industry newsletter, which said it obtained a copy of an internal memo sent by Coca-Cola North America President Alexander "Sandy" Douglas.

According to the newsletter, Beverage Digest, Douglas cited "the challenging economic environment we are facing in North America."

Scott Williamson, a spokesman for the world's largest soft- drink maker, declined to provide Reuters with a copy of the memo and only offered a brief statement.

"This action allows us to focus all of our attention on our plans to continue to build our business with our retail partners, packaging initiatives and a host of other programs that we'll have for 2008," Williamson said.

The freeze does not affect the production of vitamin water Glaceau, Fuze tea, or Odwalla juices, the company also announced. What does that say about the world?