Layoff: 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.
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After Twitter, Amazon, 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 with the intention of simplifying the organization. However, the spokesperson of PepsiCo has not yet given any official statement regarding the layoffs.
The company explained the reason for the layoffs
In a memo sent to employees, according to the Journal, PepsiCo told employees that the purpose of the layoffs is to simplify the organization so that we can work more efficiently. Others said the cuts in the beverages business would be huge as the snacks unit has already undertaken layoffs along with the voluntary retirement programme.
The impact of the recession is beginning to show on the US market
The uncertain economic environment and persistence of inflation have unnerved 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.