PepsiCo cuts 1,000 jobs following North American setback

PepsiCo is streamlining its North American operations. The soft drink and snack manufacturer is cutting about 1,000 jobs as sales in its home market are sluggish. Price cuts and marketing investments have not yielded sufficient results so far.

“Better connected”

The layoffs will take place next week and are part of a broader restructuring. PepsiCo aims to streamline its operations, improve collaboration between departments, and respond more quickly to market changes. CNBC reported this based on an internal memo from Ram Krishnan, the CEO of PepsiCo North America.