PepsiCo to lay off employees at its New York headquarters

7 Dec 2022 , 07:31 AM

PepsiCo Inc., a food, snack, and beverage firm, is laying off workers, indicating that cost-cutting operations have spread beyond IT and media companies.

Hundreds of jobs will be lost. Employees at the company’s Purchase, New York, headquarters and its snacks and packaged-food businesses in Chicago and Plano, Texas, are reportedly being laid off.

It is being done “to streamline the organization so that we can work more efficiently,” according to a memo sent to employees.

The losses will be more severe in the beverage division, as the snacks section has already reduced positions through a voluntary retirement program.