Truemors
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.
Comments (0)