Jan 5 PepsiCo Inc is considering
cutting about 4,000 jobs and reducing pension contributions in
order to boost its earnings, the New York Post said, citing
sources close to the situation.
Pepsi currently offers a pension plan and a scheme where it
matches contributions to 401(k) retirement savings accounts, and
believes offering both is more generous than its peers, a source
told the Post.
Eliminating the 401(k) match would save Pepsi $75 million,
according to the newspaper.
The job cuts, amounting to a little more than 1 percent of
the company's payroll, will include a modest number of workers
at its Purchase, New York headquarters, the Post said.
Pepsi employs about 300,000 workers globally, 2,000 of whom
are in Purchase, according to the NY Post.
A Pepsi spokesman declined to comment on the proposed cuts
to the New York Post. The company could not immediately be
reached for comment by Reuters.