Retrenchment continues in companies, now PepsiCo is planning to sack hundreds of employees
PepsiCo will lay off more than 100 employees from its New York head office, the Wall Street Journal reported monday in an internal memo. After Twitter, Amazon, and Facebook, now PepsiCo company is also planning to lay off employees. PepsiCo Inc plans to lay off more than 100 employees from its New York head office's snack and beverage units, according to The Wall Street Journal. It has been told in the report that the company has taken this decision intending to simplify the organization. However, the spokesperson of PepsiCo has not yet given any official statement regarding the layoffs.
The company explained the reason for the retrenchment in a memo sent to employees, PepsiCo told employees the layoffs are aimed at simplifying the organization so we can work more efficiently, according to the Journal. Others said the cuts in the beverages business would be huge as the snacks unit has already undertaken layoffs along with the voluntary retirement program.
The effect of the recession is visible in the American market. The uncertain economic environment and persistence of inflation have unsettled companies in a variety of industries and prompted them to cut costs. National Public Radio is restricting hiring and Warner Bros. Discovery Inc's CNN is cutting jobs, as are several other media giants. Meanwhile, Amazon.com Inc., apple Inc., and Meta Platforms Inc. Including big tech companies are laying off thousands of employees.