Coca-Cola Consolidated, Inc. announced that as of this Monday, it suspended 700 of its employees without pay.

Due to the economic impact of the COVID-19 pandemic on its business, the company has chosen to implement certain cost-saving measures in the interest of its shareholders and to help support its financial position during this time of uncertainty.

As part of these cost saving measures, as of April 20, 2020, approximately 700 company employees (representing less than 5% of its approximately 17,000 current employees) will be suspended.

Coca-Cola Consolidated currently expects these permits to continue until June 21, 2020.

During that time, suspended employees will not receive wages, but will continue to receive health care benefits, and the company will pay 100% of the applicable premiums to such employees.

Because these permits are related to the effects of the COVID-19 pandemic on your business, Coca-Cola Consolidated anticipates that employees without permits will be eligible for higher unemployment compensation, subject to applicable federal and state laws.

Coca-Cola Consolidated

The company distributes, markets, and manufactures non-alcoholic beverages in territories spanning 14 states in the United States and the District of Columbia.

Incorporated in 1980 and, along with its predecessors, Coca-Cola Consolidated has been in the non-alcoholic beverage manufacturing and distribution business since 1902.

The company is the largest Coca-Cola bottler in the United States. Approximately 85% of its total bottle / can sales volume to retail customers consists of products from The Coca-Cola Company, which include some of the most recognized and popular beverage brands in the world.

It also distributes products for several other beverage companies, including BA Sports Nutrition, LLC (BodyArmor), Keurig Dr Pepper Inc. (Dr Pepper), and Monster Energy Company.