Coca-Cola looks to close 4 bottling plants in Spain

Coca-Cola is looking to close four of its 11 bottling plants in Spain in a move that would affect 1,250 jobs, the company and the UGT union said.

The company's Spanish subsidiary, Coca-Cola Iberian Partners, plans to shutter its plants in the northwestern Asturias region, the Balearic Islands, near Madrid and in southeastern Alicante, the union said in a statement.

UGT said it was seeking to negotiate with Coca-Cola to head off the closures, and would launch strikes and demonstrations to press its position.

The company, in a statement published in Spanish media, said it would try to place 500 of the affected workers in other positions, and offer the rest early retirement or attractive termination packages.

"The restructuring aims to gain efficiency and competitiveness, and to avoid duplication that could compromise the future viability of the company," it said.

Coca-Cola Iberian Partners, which currently has 4,000 employees on its books, was founded last year by merging the seven bottling companies in Spain owned by the US brand.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • This is right time for retail investors to enter the debt market

    Quite often, retail investors are ridiculed for entering the equities market in droves, signalling the first signs of a bubble on the Street.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Zehra Naqvi

What imperfections in nature teach man

Each one of us has faced a time when we ...

Dharmendra Khandal

A wondrous world under the ground

Burrows and dens are safe homes for many kinds of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture