PepsiCo layoffs could indicate broader economic woes

PepsiCo is reportedly cutting hundreds of corporate jobs at its North American snacks and beverage divisions, making it the latest on a growing list of big companies to slash its workforce as inflation remains elevated and the risk of recession persists.

The layoffs, which the soda giant has not publicly confirmed, are another sign that companies across different industries are bracing for a tighter economic environment. The Wall Street Journal reported the cuts Tuesday, citing internal documents and people familiar with the matter.

Some of the nation’s largest employers in retail and technology, including Walmart, Amazon and Facebook parent Meta, have slashed thousands of positions in recent weeks. That’s on top of significant reductions in the media world, including at CNN and Gannett newspapers. (Amazon founder Jeff Bezos owns The Washington Post.)