Published on Thu, Feb 09, 2012 at 18:00 | Source : Reuters
Updated at Fri, Feb 10, 2012 at 14:30
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PepsiCo to invest in brands, cut about 8,700 jobs
PepsiCo Inc said it planned to pour USD 500 million to USD 600 million into its brands this year as it aims to improve sales in North America, where it lags behind archrival Coca-Cola Co.
PepsiCo Inc said it planned to pour USD 500 million to USD 600 million into its brands this year as it aims to improve sales in North America, where it lags behind archrival Coca-Cola Co.
PepsiCo, whose brands include Sierra Mist, Tropicana and Gatorade, also said it would cut about 8,700 jobs, or about 3% of its global workforce.
The company also reported a fourth-quarter profit of USD 1.42 billion, or 89 cents per share, up from USD 1.37 billion, or 85 cents per share, a year earlier.
