New York, Jan 6 (ANI): PepsiCo CEO Indra Nooyi is mulling laying off roughly 4,000 workers and ending the company's 401(k) match to boost profits.
The decision comes in the wake of PepsiCo being beset with issues like a lack of a clear heir apparent and a series of marketing missteps.
A credit- rating firm, Fitch, had earlier downgraded PepsiCo's ratings to A, citing deteriorating operating performance.
PepsiCo currently offers a pension plan and a 401(k) match to its employees, and eliminating the latter would save PepsiCo 75 million dollars, a source told the New York Post.
The layoffs would also include few workers at its Purchase, New York headquarters, the sources added.
Sources also revealed that the PepsiCo management is also at loggerheads over splitting the Frito-Lay snacks and beverage businesses.
"Indra will push all her levers to maximize earnings" so as not to disappoint investors, a consumer investment banker said.
A PepsiCo spokesperson declined to comment on the proposed cuts. (ANI)
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