Coca-Cola may lay off 1,800 employees globally

Coca-Cola, the US-based beverage giant, has announced plans to lay off about 1,800 employees globally, in an effort to cut costs by roughly US $3 billion.

Coca-Cola said in a statement on Thursday that it has begun notifying the first employees and that the process will be completed in the coming months.

"We have committed that we will ensure fair, equitable and compassionate treatment of our people throughout this process," the beverage company, which has around 130,000 employees worldwide, added.

It posted a net income of around US $6.3 billion for the first nine months of 2014, down 7.5 per cent from the same period in 2013. Meanwhile net operating revenues fell nearly 2 per cent to US $35.1 billion.

Coca-Cola, which has been hit by declining consumption of carbonated beverages in the US, said in October that it planned to cut costs by US $3 billion through 2019.