PepsiCo Cuts 1,000 North American Jobs to Streamline Operations
PepsiCo is eliminating approximately 1,000 positions across its North American business to reduce costs following lagging sales and pressure from an activist investor.
PepsiCo, Inc. is cutting approximately 1,000 jobs across its North American food and beverage operations to simplify its corporate structure and streamline operations. CEO of PepsiCo North America Ram Krishnan announced the layoffs in a letter to employees on November 9, 2026, stating the reductions would occur over the following week.
The workforce reductions follow a period of declining performance in the company's home market, where PepsiCo faced sluggish soda sales, rising input costs, and decreased demand for high-priced snacks. In October, the company lowered its full-year earnings forecast after reporting flat volume in its food division and volume shrinkage in its North American beverage unit.
These productivity savings are part of a broader turnaround effort. CFO Steve Schmitt noted that the company's recovery is taking longer than expected. The restructuring follows the acquisition of a $4 billion stake in the company a year ago by activist investor Elliott Investment Management.
