Home Business Job cuts loom as Pepsico announces return to profit – The Times

Job cuts loom as Pepsico announces return to profit – The Times

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Pepsico is to cut jobs and close factories as part of a $2.5 billion restructuring programme ordered by its new boss.

The fizzy drinks and snacks maker followed Coca-Cola, its traditional rival, by issuing a disappointing 2019 profit forecast. The announcement of its restructuring, however, appeared to assuage Wall Street.

Pepsico, which is valued at almost $164 billion, generates about three fifths of its revenue from soft drinks and snacks in North America. In contrast Coca-Cola makes about two thirds of its sales overseas, nearly all from soft drinks. Pepsico’s largest business divisions are North America Beverages, which makes its cola drink, Gatorade sports drinks and Tropicana juices, and Frito-Lay North America, which makes snack foods including Doritos crisps.

Sales at Frito-Lay North America rose…

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