PepsiCo shut down 4 bottling plants, cuts around 400 jobs, as it streamlines operations – CNBC TV18

PepsiCo shut down 4 bottling plants, cuts around 400 jobs, as it streamlines operations – CNBC TV18



PepsiCo said on Wednesday that it plans to close around 400 workers as part of the efforts to shut down four American bottling plants and to streamlinse its operations.

The company stated that 136 workers in Cincinnati would be affected by the closure; 131 in Chicago; 127 in Harrisburg, Pennsylvania; And less than 50 in Atlanta.

The Chicago plant is the only one that will be completely closed. PepsiCo confirmed that closure earlier this week. The company said that sales, distribution and warehouses will continue at the other three places.

Earlier this month, PepsiCo reduced its sales forecasts for the year as consumers in the US, China and other places pulled back on buying their drinks and snacks after years of price hike. PepsiCo’s North American drink sales fell 3 percent in the second and third quarters of this year.

PepsiCo’s net income fell by 5% to $ 2.9 billion during the July-September period. The company repeatedly stated that it focuses rapidly on efficiency and productivity benefits.

PepsiCo, which is located in procurement, New York said that affected employees will be paid and benefits will be received for 60 days, even if most will not be required to work during that time.

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