The clouds of layoffs are gathering once again in India's job market. Hindustan Coca-Cola Beverages (HCCB), Coca-Cola's bottling arm in India, is set to lay off 300 employees. This move is being described as aimed at increasing profit margins and streamlining the entire production process. According to news agency sources, the company has internally announced this decision.
HCCB currently employs 5,000 people. It has 15 factories across the country. These factories bottle beverages like Coca-Cola, Thums Up, Sprite, Minute Maid, and Kinley. Coca-Cola is India's largest soft drinks company.
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The company has stated that new measures must be taken to adapt the business to changing circumstances. In an interview with the Economic Times, a company representative said that production will not be affected by the layoffs.
HCCB has sold bottling operations to several companies in various parts of India. It has sold bottling operations for Rajasthan, Bihar, Northeast India, and parts of West Bengal. Now, Coca-Cola supplies the necessary materials. Those companies then produce and distribute the soft drinks.
According to media sources, the soft drinks business has been hit this year due to unseasonal rains from March to September, with rainfall during intense heat. Soft drink sales are typically highest between April and June. Therefore, that period is extremely crucial for the business.
