EUROPE: Coca-Cola Enterprises on-track to "centralise" finance operations

By | 11 April 2013

CCE is carrying out a restructuring programme

CCE is carrying out a restructuring programme

Coca-Cola Enterprises has said it is on course to open a new financial service centre in Bulgaria by "early summer" as its moves to centralise part of its operations across Europe.

The new centre, in Sofia, will employ around 150 people, the company confirmed to just-drinks yesterday (10 April). Asked whether this will mean job losses, a Coca-Cola Enterprises spokeperson said the new centre will involve a "combination of wholly new hires, some retained roles and some redundancies".

"Overall, the new centre doesn’t have a net impact on our employment," the spokesperson added. 

Last October, the company announced a restructuring programme across Europe, which it said will generate around US$100m in "ongoing benefits" by 2015.

Media reports yesterday quoted Bulgaria's Minister of Economy and Energy, Asen Vasilev, saying the move to Bulgaria was partly because the country has "one of the best tax policies in Europe". 

The CCE spokesperson said there had been some "inaccuracies" in media reports. "A couple of the Bulgarian media outlets are reporting that Coca-Cola’s entire administrative function is moving to Bulgaria," the spokesperson added. 

"It is Coca-Cola Enterprises only and relates purely to our new finance shared service centre. 

"The reason for the move is purely to allow us to centralise and standardise our financial processes."

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Expert analysis

Carbonated Soft Drinks in Europe

Carbonated Soft Drinks in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Europe carbonated soft drinks market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Sectors: HR – personnel, Soft drinks

Companies: Coca-Cola Enterprises

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