Coca-Cola offering employee buyouts ahead of layoffs

Coca-Cola plans to offer 4,000 employees buyouts with enhanced benefits as part of a larger corporate reorganization that will result in significant layoffs at the beverage giant. "The changes in our operating model will shift our marketing to drive more growth and put execution closer to customers ... while prioritizing a portfolio of strong brands and a disciplined innovation framework," said Coca-Cola chairman and CEO James Quincey in a statement. "As we implement these changes, we’re continuing to evolve our organization, which will include significant changes in the structure of our workforce."