ATLANTA — Atlanta-based Coca-Cola Company announced Friday a major global reorganization of its workforce that will include job cuts, both voluntary and involuntary, for thousands of employees in the U.S. and elsewhere.

The beverage giant said “to minimize the impact from these structural changes” it will offer voluntary separation packages to 4,000 employees in the U.S., Canada and Puerto Rico hired on or before Sept. 1, 2017. That covers nearly 40% of the company’s 10,800 employees in the U.S. and Canada.

Similar packages are being offered to employees in other parts of the world, the company said in a press release. Coca-Cola has 86,000 employees globally.

“The voluntary program is expected to reduce the number of involuntary separations,” the company said.

The announcement is more troubling news for metro Atlanta, where a once booming economy has been curbed as the pandemic raged and unemployment soared, though jobless rates are declining.

Coke said the global severance programs are likely to lead to expenses of $350 million to $550 million.