PepsiCo to Cut Hundreds of Jobs as Economic Pain Grows, WSJ Says

PepsiCo Inc. is laying off headquarters workers from its North American snack and beverage units, according to the Wall Street Journal, in a sign that corporate reductions are beginning to extend beyond technology and media companies.

The Purchase, New York-based company will dismiss hundreds of employees, the Journal reported Monday, citing an internal memo. PepsiCo described the layoffs as intended to “simplify” the organization, the Journal said.

PepsiCo spokespeople didn’t immediately respond to requests for comment. The company’s shares edged up 0.1% in after-hours trading.

Even though it’s paying more for commodities such as sugar, corn and potatoes and passing ...