PepsiCo is undoubtedly one of the largest companies in the world who has a huge dominance over cold drink industry. However, according to recent reports PepsiCo has decided to do mass layoff of its employees because of its restructuring plan. PepsiCo has recently started a restructuring plan which is going to cost company millions of dollars of money and layoff of its employees is a significant part of that plan. Recently the company has fired two of its employees from its significant plants, and both employees have signed a nondisclosure agreement which will prevent them to say anything regarding their layoff. A few days ago PepsiCo while submitting its reports to Security Exchange and Commission mentioned that its restructuring cost would be around $2.1 billion. In early February of 2018, PepsiCo did layoff more than 1% of its total employees.
A few days ago company while releasing its quarterly earnings reports said that PepsiCo’s main focus in upcoming months would be on reshaping and restructuring its core business. Now to save the cost of labor and overheads, PepsiCo has decided to opt for automation. Soon it will make a vast amount of investment in automotive plants and machinery. PepsiCo’s CEO Ramon Laguarta said that by cutting cost, company would be able to invest such money into improving its current business.
It seems like the company is going to depend on automatic processes since it will save lots of time and cost. Top executives recently said that they’re trying to reorganize their business in US and Canadian regions. The beverage industry is growing at a slow rate because of geopolitical situations between China and USA are not good. Now in such case, PepsiCo has decided to take such major decision of restructuring its company.
Jeffrey is acting editor in chief of AmazingNews24 with over seven years of experience in the field of online news under his belt. Jeffrey has worked with multiple media houses and is currently leading a team of journalists, sub-editors and writers through his entrepreneurial endeavours.