Layoffs at PepsiCo could mean hundreds of job losses

According to a new report from the Wall Street Journal.

The company (which oversees soft drinks like Gatorade and Pepsi, as well as popular snack brands like Lays and Doritos) will reportedly target hundreds of employees in its beverage division in three key markets: Purchase, New York; Plano Texas and Chicago, Illinois.

The WSJ said the layoffs were to “simplify the organization” so that it could “operate more efficiently,” according to an internal memo viewed by the outlet.

As the end of the fiscal year approaches, so is PepsiCo to get rid of a somewhat strong Q3 2022, with 8.8% quarter-over-quarter net sales growth and 7.7% year-to-date net sales growth.

The company’s most recent earnings report even raised its expected organic sales growth to 12% year-over-year, when it was previously expected to be just 10%.

From a declaration In August 2022, PepsiCo reported that it had a total of 299,297 permanent employees at the end of 2021, in addition to 11,103 temporary employees, bringing the total number of employees in 2022 to 310,400.

It was not specified exactly how many employees or teams would be affected, other than the vague use of the word “hundreds.”

The company recently made headlines after a holiday campaign featuring controversial actress Lindsay Lohan in which the star indulged in a drink called “Pilk,” a combination of milk mixed with Pepsi.

“Combining Pepsi and milk has long been a secret hack among Pepsi fans,” Pepsi Chief Marketing Officer Todd Kaplan said in a statement. business expense about the new campaign. Now with the rise of the ‘dirty soda’ trend on TikTok and across the country, we thought Pilk and Cookies would be a great way to unashamedly celebrate the holiday season with a new and delicious way to spice up this season of Pepsi. to enjoy.”

PepsiCo was over 9% over a one-year period as of late Tuesday afternoon, even as layoffs threaten.