Pepsi to Cut 750 Jobs in Restructuring

Reuters
Pepsi to Cut 750 Jobs in Restructuring
Tuesday December 2, 8:13 am ET


NEW YORK (Reuters) - PepsiCo Inc. (NYSE:PEP - News) on Tuesday said it would cut about 750 jobs as it reorganizes its North American soft drink business and international operations and closes a Frito-Lay plant in the United States as it moves to cut costs.

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Under the plan, Pepsi said it would close its Frito-Lay plant in Louisville, Kentucky, and shut down some other manufacturing lines, affecting 330 employees. Production from these facilities will be moved to newer and more productive plants, the company said.

Pepsi did not detail the rest of the job cuts, but said most would be in North America.


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http://biz.yahoo.com/rb/031202/food_pepsi_4.html

How the hell is Pepsi/Frito Lay doing so badly that they need to cut jobs? I don't have jack sqaut but I can afford my Pepsi and my chips so I don't how their numbers have declined to the point of neccessitating layoffs. Shame.

If their fiscal ends on March 31, it allows them to take the 'costs' or the restructuring off the top. Makes the stockholders happy. Who gives a shit about the jobs. Another penny added to the dividend and boosts short-term stock prices.