PURCHASE, NY. — PepsiCo, Inc. plans to eliminate hundreds of jobs at the headquarters of its North American snacks and beverages division, according to an article published Dec. 5 by The Wall Street Journal.
A memo sent to PepsiCo staff said the layoffs were intended to simplify the organization to allow the Purchase-based company to operate more efficiently, according to the article.
PepsiCo had yet to respond to the report by midday Dec. 6. The company employed over 309,000 people worldwide as of Dec. 25, 2021, according to PepsiCo’s 2021 annual report. PepsiCo stock on the Nasdaq was trading at $181.97 per share at midday Dec. 6, which compared to a close of $185.69 on Dec. 2 and a close of $183.12 on Dec. 5.