Coca-Cola said it plans to slash costs by $3 billion a year after the world's biggest beverage maker reported disappointing sales on flat soda volume.
The maker of drinks including Powerade, Sprite and Diet Coke said the savings will help fund the marketing that's needed to drive up sales.
As sales of their drinks have slowed, Coca-Cola and rival PepsiCo have both sought to improve their financial performance by trimming costs. In the US, they're also trying to boost sales by pushing "mini-cans" positioned as a way to control portions.
Trading Tip: This can greatly affect the Coca Cola share. Keep an eye out for more news.
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