Coke gets leaner with job cuts in China

The Coca-Cola Co confirmed on Tuesday that it will cut jobs in China as part of a global layoff program, which is intended to help the beverage giant become leaner and faster in response to fierce competition with local rivals.

"We are redesigning our operating model to streamline and simplify our structure and accelerate the growth of our global business. This redesign will impact on jobs across our global operations, including some impact in China," according to a statement released by Coca-Cola China.

The statement said that the redesign affects only the company's direct operations, and there will be no impact on its bottling companies in China or around the world.