The layoffs will affect employees of its food and beverage businesses in Chicago; Plano, Texas and Purchase, New York, the Journal reported, citing people familiar with the matter and a company memo. PepsiCo's portfolio includes Gatorade drinks, Frito-Lay snacks and Quaker Oats foods.
The company's beverage unit is expected to be hit harder by the cuts because the snacks unit already shrank its workforce through a voluntary retirement program, according to the Journal.Pepsi employed 309,000 people worldwide as of Dec. 25, with more than 40% of those jobs located in the U.S., according to a company regulatory filing.forecast after higher prices boosted its sales.
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