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Coca-Cola CEO: No layoff plans, but expect 'profound economic shock' in Q2

"We’ve got crisis adjustment in our DNA."

ATLANTA — The stock market has been pummeled and the second-quarter balance sheets will be ugly. But Coca-Cola CEO and Chairman James Quincey says he's nowhere near ready to panic.

"We’ve got crisis adjustment in our DNA," said Quincey on Tuesday during CNBC's Squawk on the Street program.

Quincey said he remains optimistic about The Coca-Cola Co.'s long-term health and its increasingly diversified beverage portfolio, while acknowledging the company has not been immune to the widespread economic pain created by the COVID-19 coronavirus.

Quincey called the supply chain around the world "creaky" and said there are "flash points when it’s getting a little harder to get ingredients through, whether it’s delays at the borders, the big changes in channel mix." However, Quincey added the Atlanta-based beverage giant started the pandemic in a "robust position" and has a clear approach to getting through the "darkest hour" of fighting the virus.

Read the full story at the Atlanta Business Chronicle.

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