Pepsi May Cut 4,000 Jobs: Report

on January 05 2012 7:10 AM

PepsiCo Inc. may cut 4,000 jobs and lower pension contributions to boost earnings, according to a report.

Pepsi employs about 300,000 workers around the world, including 2,000 in Purchase, New York at company headquarters. The job cuts will involve some employs working in Purchase, according to The New York Post.

The newspaper cited sources close to the situation, saying Pepsi may also eliminate a 401(k) match to save the company $75 million annually.

Pepsi currently offers a pension plan and a program in which the company matches employee contributions to 401(k) retirement accounts and a source told the Post that the company believes the offering of both is above and beyond competitive peers.

Pepsi declined comment on the proposed cuts.

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