PepsiCo to cut jobs in Chicago
PepsiCo is reportedly planning to cut jobs at its office in Chicago as part of its plans to cut USD 8 billion in costs by 2019.
According to local media reports, the layoffs will affect PepsiCo’s Nutrition division in North America, which oversees brands such as Gatorade, Quaker and Tropicana.The exact number of layoffs has not been disclosed.
This is not the first round of cost-cutting for PepsiCo. The company pushed a restructuring plan attacking jobs from 2012 to 2014 which resulted in $1.5 billion savings- on top of $1.5 billion in cost cutting it previously announced. The company cut 8,700 jobs across 30 countries, or about 3 percent of its workforce, as it sought to offset high commodity costs and increased investment in advertising and marketing in North America.