The report says, PepsiCo plans to cut hundreds of corporate jobs

According to the Wall Street Journal, PepsiCo is eliminating hundreds of corporate jobs in North America.

This layoff of PepsiCo will affect employees in Chicago, Texas, New York, Plano, and Purchas in its food and beverage business. The Journal reported that, citing people familiar with the matter of layoff and a company memo. The portfolio of PepsiCo includes Frito-Lay snacks, Gatorade drinks, and Quaker Oats foods.

According to the Journal, the company’s snacks unit has already shrunk its workforce through a voluntary retirement program, and now the beverage unit is expected to be hit harder by the cuts.

As of December 25, Pepsi has employed 309,000 people worldwide and more than 40% of those jobs are located in the U.S. PepsiCo has hiked its full-year revenue forecast in October after higher prices boosted its sales. However, some of PepsiCo's business units, including Frito-Lay North America have reported shrinking volume and that is a sign that customers were cutting back their snacking to better manage their budgets.