Global beverage giant Coca-Cola likely to provide pink slips to 200-250 senior and middle-level executives in India.
This would be the biggest lay off in the history of Hindustan Coca-Cola Beverages (HCCB), the largest bottling arm of the company in India.
Citing top level sources, a media report stated that executives in departments such as, IT and finance are also likely to be impacted.
"Some of us are being given less senior roles, while others are being asked to shift to obscure locations," a senior HCCB executive told the media. "People who are not finding the new terms possible, will or are looking at other options."
In response to the about the retrenchment, the company issued a statement that said, "HCCB will now operate under seven zones instead of the current five and will also re-organise its corporate centre resources to serve in the zones and factories."
At present, HCCB operates 21 factories across the country and ended the financial year ending March 2017 with revenue of Rs 9,472 crore (billion).
Due to the reorganisation, the company will have a leaner corporate office and a much strengthened sales and supply chain organization, thereby creating several hundred new jobs.
The process, however, will make a few existing jobs redundant, the incumbents of which will be encouraged to apply for the new jobs that have been created.
The retrenchment process is expected to affect major functions at the company, including HR, special projects, sustainability, route-to-market and alternate beverages, said sources.
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