Published on : Oct 06, 2015
Coca-Cola, in a bid to position itself better for the future years, is making some changes to its strategy in Singapore for focusing on high value adding services such as research, innovation, and new technologies, stated Stephen Lusk, the chief executive of the Coca-Cola Singapore Beverages (CCSB) and Coca-Cola Bottlers Malaysia.
The closure of the bottling plant in Singapore will affect about 200 employees. The bottling plant will be instead moved to Malaysia.
It is being said that the affected employees will be offered support services as well as competitive severance packages for transitioning into new work positions. CCSB, the employment and employability institute, and the FDAWU (Food, Drinks and Allied Workers Union) will be working with the affected employees. CCSB will continue to employ nearly 450 employees while retaining its functions like finance/administration, warehousing, marketing, distribution, procurement, legal and IT, and a sizeable work force, and its current product portfolio. The company will also continue to hire nearly 300 people across its other set of operations at the company’s Singapore base.
The executive director of the Singapore Economic Development Board’s consumer businesses division, Kevin Lai, said that Singapore is one of Asia’s leading countries for companies from the consumer business sector and that he is hopeful that the country will remain a strategic business location for the Coca-Cola.
This is shown by the company’s commitment in investing high-value added services in the Singapore division, such as the expansion of its high-end concentrate plant, which delivers beverage concentrate to some of the key markets across the entire Asia Pacific.
The consumer business industry of Singapore is expected to create nearly 2,400 jobs and about S$2.1 billion worth of additional value over the period 2014 to 2016