PepsiCo Plans Job Cuts In North America: Report

PepsiCo Plans Job Cuts In North America: Report
  • PepsiCo Inc PEP is slashing jobs in the headquarters of its North American snacks and beverages divisions.
  • The move, the WSJ reported, proves that cost-cutting is reaching areas other than tech and media.
  • The report added that the job cuts involve hundreds of positions in the company’s North America beverage business, based in Purchase, New York, and snacks and packaged-foods business, headquartered in Chicago and Plano, Texas.
  • The beverage giant, in a memo to its employees, said the move was intended “to simplify the organization so we can operate more efficiently.”
  • After a jump in quarterly sales, PepsiCo in October announced cost cuts to offset the pressure on profit margins and to manage macroeconomic uncertainties.
  • PepsiCo employed approximately 309,000 people worldwide as of December 25, 2021, including approximately 129,000 people within the U.S.
  • It now joins the likes of Walmart Inc WMT and Ford Motor Co F, which have resorted to slashing white-collar positions.
  • Price Action: PEP shares are trading higher by 1.400.24% at $183.59 in premarket on the last check Tuesday.
  • Photo Via Company
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