PepsiCo (NYSE:PEP) has decided to cut jobs around the world.

PepsiCo Set For Job Cuts

PepsiCo (NYSE:PEP) has announced that it is laying off nearly nine thousand employees around the world.

The job cuts will be felt in a wide range of cities and countries around the world.

The lay-off is part of a long-term plan to save the company $1.5 billion over the next three years.

Jeff Dahncke, PepsiCo (NYSE:PEP) spokesman, said that, “Specifically, about 8700 jobs across 30 countries will be impacted. Roughly one percent of the total numbers of jobs affected globally are in Westchester, so we will continue to maintain a large presence in the county.”

PepsiCo (NYSE:PEP) shares were at 63.52 at the end of the last day’s trading. There’s been a 1.4% change in the stock price over the past 3 months.

PepsiCo (NYSE:PEP) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.93
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.86
Zack’s Rank: 3 out of 15 in the industry