Coca-Cola will discontinue more than 200 drinks due to the COVID-19 crisis

The Coronavirus pandemic reached one of the most powerful companies: Coca-Cola.

Without a doubt, the Coronavirus pandemic has challenged the survival of countless companies worldwide; And now, it is confirmed that one of the most powerful, The Coca-Cola Company, will significantly reduce its monstrous operations as a result of the global health crisis.

It has been announced that the multinational is about to eliminate 200 brands of beverages from its catalog, which represents approximately half of its current inventory. James Quincey, President and CEO of The Coca-Cola Company, explains the product downsizing as a natural consequence of an unprecedented year of struggle:

“During this year’s crisis, our system has remained focused on its drinks for life strategy, Quincey said. We are accelerating our transformation that was already underway, shaping our business to recover faster than the overall economic recovery.”

In a press release, Coca-Cola stated that “the company expects to offer a portfolio of approximately 200 master brands, a 50% reduction from the current number and phase out some products.” In the United States, brands such as ZICO® (coconut water) and TaB® (cola) will soon be withdrawn from the market.

Like almost every other business in the world, Coca-Cola has been adversely affected by the COVID-19 pandemic and the consequent closure of businesses, travel and tourist attractions. Businesswire reports that the company’s revenue in the third quarter of 2020 fell 9% ($ 8.7 billion).

SoftBank agreed on Tuesday to pay more than 10,000 million dollars to acquire WeWork, doubling its investment and paying close Read more

Microsoft has struck the table when it won the JEDI contract (acronym for Joint Enterprise Defense Infrastructure) tendered by the Read more

Siemens Gamesa has received a conditional order to supply 140 wind turbines of its most powerful model (11 MW) to Read more

A few years ago Boeing was the most important aeronautical company on the planet. being the most important civil constructor Read more

Tesla will begin delivering the first orders of the Model Y, its new SUV compact SUV, in the first quarter Read more

General Motors has announced that it will invest 1,500 million dollars (1,350 million euros) in the new generation of ‘pick-ups’ Read more

Netflix already has 158.3 million subscribers worldwide, demonstrating its strength in the face of increasing competition. However, its biggest advantage Read more

The aircraft manufacturer Boeing (NYSE: BA) suspends the production of its 737 MAX aircraft, after not obtaining this year, as Read more

Navin Shenoy, the vice president of Intel, said in a statement that “this acquisition advances our artificial intelligence strategy, which Read more

The Starliner spacecraft, from the Boeing company, landed successfully this Sunday in New Mexico after it failed on Friday in Read more