New Delhi: There is a series of retrenchments one after another in the big brand companies above Vaishvif Phalak. Now PepsiCo, the maker of Pepsi, is going to lay off hundreds of people from the headquarters of its North American snacks and beverages verticals. The employees are worried about this. The layoffs will affect the company’s North American beverage business, which is based in New York. It is worth mentioning here that the headquarters of America’s snacks and packaged-food business are located in Chicago and Texas respectively.
- From Amazon, Facebook, Twitter to TopChat and Microsoft last month
- As big companies have announced layoffs, many employees have been laid off
- The company employs approximately 309,000 people worldwide
The company employs approximately 309,000 people worldwide
The food and beverages company employs approximately 309,000 people worldwide. Out of which 1,29,000 people are employed in America. According to the details received, this company informed in pursuance of the retrenchment done by them and said that this process is being done to make the organization easier and more efficient. There will be more layoffs in verticals related to beverage manufacturing compared to snacks. It is worth mentioning here that PepsiCo manufactures Doritos Nachos, Lay’s Potato Chips and Quaker Oats in addition to its namesake cold drink.
The company took this decision as part of controlling rising prices
Other food and drinks companies, including Pepsi, are taking steps to reduce costs associated with raw materials, transportation, and man power. Further, the company heads were saying that the company has taken this decision as part of controlling the rising global prices. It is worth mentioning here that the demand for food products at grocery stores is very strong and stable despite the rising prices.
Now this streak is going on
Last October, PepsiCo reported better third-quarter sales amid rising prices. It then revised up its revenue and earnings estimates for the full year. It is worth mentioning here that last month, big companies like Amazon, Facebook, Twitter, TopChat and Microsoft announced their layoffs. Amazon has already announced the layoff of more than a thousand employees, including 1,280 employees. Now this streak is going on. Companies like TopChat have reported very poor quarterly results and reported huge losses of approx. Under these circumstances, the company stopped the recruitment process and announced layoffs.