PepsiCo has announced a plan to cut 1,000 jobs across North America due to lagging sales across the region.
The company announced that the cuts would come over the next week, and is aimed at streamlining its operations and connecting teams across the company’s North American business.
Ram Krishnan, CEO of PepsiCo North America, wrote, ““We have a clear ambition for PepsiCo North America: to build a stronger, more future-fit business that delivers industry-leading growth,”
He added, “To do that, we need to be faster, more connected, and more capable, while continuing to invest in growth — behind our people, capabilities and brands.”
PepsiCo employs about 306,000 people worldwide, including roughly 125,000 in the United States, as of Dec. 27, according to a company filing.
Note that in October, PepsiCo cut its full-year earnings outlook, citing the struggles in its home market. During the third quarter, its North American beverage unit saw volume shrink 2%, while its North American food division reported flat volume.
While the company has tried to boost sales by cutting prices and investing in marketing, the turnaround is taking longer than expected.
What could PepsiCo do to remain viable in the North America, to make more profit and avoid job cuts?
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