Coca-Cola plans layoffs this year

The Coca-Cola Co. is cutting information technology jobs in a bid to become more efficient, according to the Associated Press. The IT department has 1,100 employees. They will be notified by mid-November of their job statuses. The job cuts will take place by the end of the year. Coca-Cola President and Chief Executive Muhtar Kent said earlier this year he wanted to find $400 million to $500 million in annual productivity savings by the end of 2011.