Coca-Cola Amatil (CCA) is cutting 260 positions next year as part of a restructure aimed at making over $100 million in savings.
The cuts are part of a broader plan to address structural challenges and to stabilise earnings and return to growth, according to CCAs group managing director, Alison Watkins.
Last month, CCA announced it would close its Bayswater, Melbourne plant, resulting in the loss of 57 permanent roles.
“The restructure will lead to the reduction up to 260 non-frontline positions, with the majority taking effect in 2015. This latest restructure, together with costinitiatives already in train, gives us a high level of confidence we will achieve our savings targets,” she said.
Watkins also said CCA has a great line up of new product launches and marketing initiatives including the launch of Coke Life in the first half of 2015.
She also said the Indonesian business is continuing to deliver strong volume growth and improvements in market share.
According to Watkins, however, trading conditions in Australia continue to be challenging.
“While we have not yet seen the anticipated improvements in the grocery channel and operational accounts, we continue to expect second half Group earnings before interest and tax to exceed first half earnings of $316.7 million, before significant items.”
