Coca-Cola Consolidated filed a Form 8-K with the Securities and Exchange Commission Friday stating that the company is furloughing approximately 700 employees as part of cost-saving measures amid economic impacts from the COVID-19 pandemic.
Charlotte, NC-based Coca-Cola Consolidated, the largest independent bottling company in the US, said the furloughs began on Monday and are expected to continue through June 21 of this year. During that time, furloughed employees will not receive salaries, but will continue to receive health care benefits. Coca-Cola Consolidated said the company will pay 100 percent of premiums applicable to impacted employees, and that because the furloughs are related to COVID-19's impact on the business, it is anticipating impacted employees to be eligible for enhanced unemployment compensation, subject to federal and state laws.
The company said furloughed employees represent less than 5 percent of its approximately 17,000 current employees.
According to its website, Coca-Cola Consolidated operates 13 manufacturing facilities and 76 distribution and sales centers in the US Southeast, Midwest and Mid-Atlantic.