PepsiCo Inc. is laying off workers at its North American snack and beverage divisions, a sign that corporate belt-tightening is extending beyond tech and media, according to people familiar with the matter and documents reviewed by The Wall Street Journal.
One person said dozens of jobs will be eliminated. The cuts affect the company's North America beverage business, which is based in Purchase, N.Y. and its North America snack and packaged-foods business, which has its headquarters in Chicago and Plano, Texas, the people said.
PepsiCo told employees that the layoffs were intended to simplify the organization so that we can operate more efficiently, according to a memo sent to staff that was viewed by the Journal. The people said that the cuts will be heavier in the beverage business because the snack unit already has trimmed positions with a voluntary retirement program. PepsiCo PEP, which makes Doritos, Lays potato chips and Quaker Oats, along with its namesake cola. This natural gas bonanza is in the dumps.