Make us your home page

Tampa soda company Cott to cut jobs, production

TAMPA — Cott Corp., the soft drink maker that relocated its executive offices from Canada to Tampa last fall to save money, is chopping an additional $43-million in costs. That means more layoffs and production line shutdowns in its 23 bottling plants.

The world's biggest maker of store-brand carbonated soft drinks, Cott did not attach a head count to the impending job cuts. But half the cost reductions will come from payroll, and Cott earmarked $8-million for severance payments.

It was one of several bitter pills the company, which lost $89-million the past two fiscal years, will swallow as North America's thirst for carbonated soft drinks continues to decline and commodities prices soar. Other steps outlined in a conference call Thursday are:

• Return attention to the store-brand business including Sam's Choice, the Wal-Mart soft drink line that accounts for 40 percent of Cott's business.

• Scale back new brands in other beverage categories. The company last year launched four new brands to make up for dwindling soft-drink sales: Emerge, a nutrient-infused bottled water; Throwdown with taurine, an energy drink; Zing Tea; and Fortifido, a bottled water for pets.

Cott's share price rebounded 19 percent on the news, closing Thursday at $2.99, up 48 cents. The stock had lost half it value this year.

Mark Albright can be reached at or (727) 893-8252.

Cott Corp.

2007 revenues: $1.8-billion

Headquarters: Near Tampa International Airport, and a bottling plant at 4506 Acline Drive in Tampa.

Employees: 3,000, about 250 in Tampa Bay area.

Products: 67 percent of store-brand soft drinks in North America including Sam's Choice for Wal-Mart and private labels for Sweetbay, Costco,

7-Eleven, Albertsons, USave and Dollar General.

Sources: Cott Corp., SEC filings

Tampa soda company Cott to cut jobs, production 06/19/08 [Last modified: Thursday, June 19, 2008 10:40pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  2. Line of moms welcome Once Upon A Child to Carrollwood


    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  3. Pastries N Chaat brings North India cuisine to North Tampa


    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.
  4. 'Garbage juice' seen as threat to drinking water in Florida Panhandle county


    To Waste Management, the nation's largest handler of garbage, the liquid that winds up at the bottom of a landfill is called "leachate," and it can safely be disposed of in a well that's 4,200 feet deep.

    Three samples that were displayed by Jackson County NAACP President Ronstance Pittman at a public meeting on Waste Management's deep well injection proposal. The sample on the left is full of leachate from the Jackson County landfill, the stuff that would be injected into the well. The sample on the right shows leachate after it's been treated at a wastewater treatment plant. The one in the middle is tap water.
  5. Honda denies covering up dangers of Takata air bags


    With just a third of the defective Takata air bag inflators replaced nationwide, the corporate blame game of who will take responsibility — and pay — for the issue has shifted into another gear.

    Honda is denying covering up dangers of Takata air bags. | [Scott McIntyre, New York Times]