Capital, Earnings & M&A
Losing 3.8 Billion and Still Cutting Jobs: Why Did Coca-Cola Lose to Pepsi This Time?
Both sell sugary drinks, but why is Coca-Cola suffering more than Pepsi? Recently, Coca-Cola announced 4,000 layoffs with estimated severance costs up to $550 million (about RMB 3.8 billion). In Q2, Coca-Cola's net profit fell 33% to $1.8 billion, meaning about one-third of earnings will go to severance. In H1, Coca-Cola's revenue dropped 15.73%, while Pepsi's grew 1.68%.
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