Soft drinks manufacturer Coca-Cola has announced plans to cut nearly 1,200 jobs as part of its cost-saving strategy.

Most of the cuts will take place at the company’s headquarters in Atlanta, Georgia.

Set to begin in the second half of this year, the company’s latest decision follows a decline in sales of its carbonated drinks by 1%.

The Coca-Cola Company's chairman and chief executive officer (CEO) Muhtar Kent said: “The Q1 performance was in line with our plan, and we remain on track to deliver our underlying revenue and profit targets for the full year. As anticipated, revenues in the quarter were adversely impacted by two fewer days and the shift of the Easter holiday.

“Most importantly, we continue to execute against the long-term strategic transformation plan for the company, a plan that I am confident will deliver even greater shareowner and stakeholder value in the years to come.”

The company anticipates that its cost-cutting strategy will help it save nearly $800m on an annual basis and nearly $3.8bn by 2019.

Incoming CEO James Quincey said that the majority of the additional cost savings are set to come from corporate job reductions.

Image: Coca-Cola to cut 1,200 jobs in US as part of cost-saving programme. Photo: courtesy of THE COCA-COLA COMPANY.