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