PepsiCo to cut about 1,000 jobs as North American business struggles

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PepsiCo is cutting about 1,000 jobs across North America as the company tries to turn around lagging sales in its home market. "We have a clear ambition for PepsiCo North America: to build a stronger, more future-fit business that delivers industry-leading growth," Ram Krishnan, CEO of PepsiCo North America, wrote in a Monday letter to employees obtained by CNBC. "To do that, we need to be faster, more connected, and more capable, while continuing to invest in growth – behind our people, capabilities and brands." Over the next week, Pepsi plans to cut jobs as it says it aims to streamline its operations and better connect teams across the company's North American business.