Pepsico the manufacturers of Pepsi-Cola drinks, Frito-Lay snacks and Quaker foods seems to have been hit by lesser demand due to the economic slowdown.
People seem to have cut down on the intake of bottled water, carbonated drinks etc. due to the higher gas prices and the general gloom in the economic scenario. It is likely to cut around 3300 jobs (nearly 1.8% of its workers). It might also close upto six plants and most of the job cuts are likely in the fourth quarter