PepsiCo to cut about 1,000 jobs in North America as sales turnaround lags
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PepsiCo plans to cut roughly 1,000 North American jobs over the coming week to streamline operations and lift weak home-market sales, Ram Krishnan, CEO of PepsiCo North America, wrote in a Monday staff letter. The company employs about 306,000 people globally and roughly 125,000 in the U.S. It cut its full-year earnings outlook in October; in Q3 North American beverage volume fell 2% and food volume was flat despite price cuts and marketing. The Wall Street Journal reported the layoffs first.
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