UPDATE: Coca-Cola to Slash Workforce, Including Hundreds of Atlanta Jobs

Photo Credit: Coca-Cola

UPDATE (4:00 p.m.): Coca-Cola has announced plans to lay off nearly 2,000 workers over the coming months, including a hefty reduction in their Atlanta workforce.

According to the Associated Press, the Atlanta-based company will lay off 500 employees at its headquarters in a move that is designed to reduce costs and pour the extra cash into marketing and advertising campaigns as the demand for soft drinks continues to shrink.

Coca-Cola did not say when layoffs would begin.

ORIGINAL STORY: Atlanta-based Coca-Cola has informed employees that a wave of layoffs which could eliminate thousands of jobs will begin in the next few months, the Atlana Business Chronicle says.

According to the Chronicle, the message was sent out to employees on Thursday that anywhere between 1,600 and 1,800 job cuts are in the offing as part of a four-year plan to slash costs. The nearly $1 billion program is meant to free up cash to be used to strengthen the brand and to increase its marketing footprint, the Chronicle reports.

Coke employees in Atlanta could take the brunt of the new layoffs, with the Chronicle reporting that up to 10 percent of the corporate workforce could be given their pink slips. A Chronicle report from December said that most bottling and distribution jobs will be spared.

International employees will be notified of job cuts on Jan. 15, according to the Chronicle.