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PepsiCo to cut hundreds of jobs at HQ

Published 12/05/2022, 04:36 PM
Updated 12/05/2022, 04:43 PM
© Reuters.
PEP
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By Yasin Ebrahim

Investing.com -- PepsiCo Inc (NASDAQ:PEP) reportedly is set to lay off hundreds of workers at North American snacks and beverages divisions, the Wall Street Journal reported Monday, citing unnamed sources.  

PepsiCo was up about 0.5% following the news.

The job cuts are part of a move “to simplify the organization so we can operate more efficiently,” Pepsi told employees in a memo that was viewed by the Journal.

The firm's beverage business will bear the brunt of the cuts as the snacks business has already trimmed positions via a voluntary retirement program, the people said, according to the report. 

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