Pepsi to Reorganize Soft Drink Unit
From Reuters
PepsiCo Inc. said it would reorganize its North American soft drink business, reversing changes made just 18 months ago, and close a Frito-Lay plant in Kentucky.
The cost-cutting moves will reduce the North American workforce by about 750 and reverse Pepsi’s June 2002 consolidation of its North American drinks business into one unit.
Pepsi said it would record restructuring charges of about 6 cents a share in the fourth quarter. Its shares fell 57 cents to $48.14 on the NYSE.
