Originally published on Thu February 9, 2012 2:08 pm
Credit Mark Lennihan / AP
PepsiCo, the maker of Pepsi soda and Doritos chips, said it will cut 8,700 jobs worldwide. That represents about 3 percent of its 300,000 person global work workforce.
The announcement also comes just after the company announced better-than-expected fourth-quarter earnings. The Financial Times reports that net income for the company rose 3 percent to $1.4 billion and revenues were up 11 percent to $20.1 billion.