Tagged: Jobs

There were 351,000 first-time claims for unemployment insurance last week, unchanged from the four-year-low level of the week before, the Employment and Training Administration just reported.

It adds that "the 4-week moving average was 359,000, a decrease of 7,000 from the previous week's revised average of 366,000."

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.