Pepsico To Cut 8,700 Jobs; 4Q Net Rises

AP
pepsico pepsi cutting jobs
pepsico pepsi cutting jobs

By Mae Anderson


PURCHASE, N.Y. (AP) -- PepsiCo plans to cut 8,700 jobs, or about 3 percent of its workforce, as it seeks to offset high commodity costs and increases investment in advertising and marketing in North America.

The maker of Pepsi soda, Tropicana juice and Doritos chips said Thursday that it expects the restructuring will save an additional $1.5 billion by 2014 - on top of $1.5 billion in cost cutting it previously announced.