PepsiCo Planning to Cut Costs, Jobs

PepsiCo Inc. said it planned to cut costs in some of its operations and take a restructuring charge of as much as $85 million.

As part of the plan, the company’s Frito-Lay unit said it would lay off 200 to 250 employees, or 0.5% of the snack food maker’s 46,000 workforce.

PepsiCo said the restructuring charges would cut 2005 earnings per share to $2.38 to $2.39 from the previously forecast $2.41 to $2.42 a share.