Pepsi to make 8,700 jobless to make profits

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Pepsi to make 8,700 jobless to make profits

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Pepsi announced Thursday it would slash some 8,700 jobs in its global workforce.

09 February,2012 08:13 pm

The beverage company says it would do so to boost savings and returns to investors.The cuts are part of a new three-year productivity program expected to generate $1.5 billion in cost savings.This effort includes headcount reductions of about 8,700 employees across 30 countries, about three percent of the companys global workforce, the company said in a statement.The productivity programs will enhance the companys cost-competitiveness as well as provide a source of funding for future brand-building and innovation initiatives.The company said that meanwhile it will add $500-600 million to advertising and marketing around the world, but especially focused on the North Americas market.-- Agencies