Pepsi to axe jobs in new war on Coca-Cola
Friday 10 February 2012
Pepsi has promised to take the fight to its arch-rival Coca-Cola, with an extra $600m (£378m) marketing and advertising blitz.
Pepsi, whose drinks include Mountain Dew and Sierra Mist as well its namesake cola, is to cut 8,700 jobs to pay for the new spending. The job losses represent 3 per cent of the workforce and will be spread over 30 countries and across the group's drinks and snacks businesses.
The decision to refocus on the core fizzy drinks business follows several years of investment in new, healthier drinks and snacks, such as hummus and drinkable oatmeal. Pepsi has slipped to No3 in the North American fizzy drinks market, behind Coca-Cola and Diet Coke.
Indra Nooyi, who has made the move into health products central to her five-year tenure as chief executive, defended that strategy at a meeting with investors yesterday. "It's an 'and' game, not an 'or' game," she said.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
- 5 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
UK weather: 'Coldest night of the year' tonight as freezing temperatures plummet to -10C
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Douglas Carswell tells Ukip to stop blaming foreigners as youth poll shows Nigel Farage is even less popular than Nick Clegg
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...