Pepsi bottles lined up in a store in New York City on March 17, 2025.
Spencer Pratt | Getty Images
pepsico The company is cutting about 1,000 jobs across North America in an effort to recover from sluggish sales in its home market.
“We have clear ambitions for PepsiCo North America: to build a stronger, future-ready business with industry-leading growth,” PepsiCo North America CEO Ram Krishnan said in a Monday letter to employees obtained by CNBC. “To do that, we need to become faster, more connected and more capable, while continuing to invest in our people, capabilities and growth behind our brand.”
Pepsi is planning job cuts over the next week as it looks to streamline operations and improve collaboration among teams across its North American operations. As of Dec. 27, PepsiCo had approximately 306,000 employees worldwide, including approximately 125,000 in the United States, according to PepsiCo’s filings.
The Wall Street Journal first reported the upcoming job cuts.
In October, PepsiCo lowered its full-year profit forecast, citing struggles in the domestic market. During the third quarter, volumes in the North American Beverages segment decreased 2%, while volumes in the North American Foods segment were flat.
The company has been trying to boost sales by cutting prices and investing in marketing, but the recovery is taking longer than expected, Chief Financial Officer Steve Schmidt said on an earnings call.
Pepsi shares rose slightly in afternoon trading. The stock has fallen nearly 1% since the beginning of the year, lagging the stock. S&P500rose about 11% over the same period.
