PepsiCo is planning to phase out 1,000 jobs in its North American sector as the beverage and snack giant seeks to streamline operations and faces less demand for its products.
The Wall Street Journal first reported the potential cutbacks.
PepsiCo lowered its outlook last month in an earnings-per-share report, citing issues in its North American sector with weaker beverage sales and higher costs.
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North American CEO Ram Krishnan said in an internal letter the cutbacks will take place over the next week.
“The goal is to move faster, execute better, and invest behind the opportunities that will drive our growth,” Mr. Krishnan said in the letter, according to Reuters.
The company has not said which sectors will be directly affected.
As of December, PepsiCo employs 306,000 people worldwide and 125,000 in the U.S.
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