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PepsiCo plans to cut hundreds of corporate jobs: report

cigaretteman

HR King
May 29, 2001
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PepsiCo is cutting hundreds of corporate jobs at its North American snacks and beverage divisions, according to a news report, making it the latest large employer to scale back its white-collar workforce.

It’s also a sign that big layoffs have extended beyond the tech and media sectors as companies brace for a tighter economic environment, the Wall Street Journal reported, citing people familiar with the matter and internal documents.

Some of the country’s largest employers, including Walmart, Amazon and Facebook’s parent company Meta, have recently slashed thousands of white-collar jobs. That’s on top of heavy job reductions in the media world, including CNN and Gannett newspapers. (Amazon founder Jeff Bezos owns The Washington Post.)
U.S. adds 263,000 jobs in November, complicating the fight against inflation
The PepsiCo cuts will occur within its beverage business based in Purchase, N.Y., as well as its snacks and packaged food business, headquartered both in Chicago and Plano, Texas, the report said.







A memo to staff explained that the layoffs were meant “to simplify the organization so we can operate more efficiently,” the Journal reported. The cuts follow what company leaders described as strong third-quarter results; revenue has jumped nearly 8 percent year to date.
PepsiCo, which makes snacks like Doritos and Lays in addition to soft drinks, did not immediately respond to a request for comment from The Washington Post.
Despite a growing number of large-scale layoffs in recent months, the job market has remained resilient as the Federal Reserve tightens interest rates in an effort to crush inflation. The U.S. economy added 263,000 in November, according to a Bureau of Labor Statistics report released Friday — a slight drop from October but still above historic norms.
It remains unclear whether the layoffs in the tech and media sectors represent a harbinger of recession. The tens of thousands of tech workers let go this year may mark the end of a historically strong decade for the industry, and economists say there could be spillover effects into other businesses as the economy show signs of slowing.
This is a developing story and will be updated.

 
IMO Pepsi's biggest issue profit wise right now is the Frito division. Pepsi was making such a high profit margin for so long and getting away with it that now they no room to raise price enough to keep up with cost in todays environment. Other companies can under price if they so desire, and stores are allocating more space to other companies.
 
IMO Pepsi's biggest issue profit wise right now is the Frito division. Pepsi was making such a high profit margin for so long and getting away with it that now they no room to raise price enough to keep up with cost in todays environment. Other companies can under price if they so desire, and stores are allocating more space to other companies.
All I know is that they can't raise the price of Fritos enough. Them bitches are constantly out of stock.
Tried the 'low sodium' Fritos. Turns out most of the flavor is salt. Who knew?
 
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