PepsiCo to lay off 'hundreds of workers' at New York headquarters: Report

It is being done 'to simplify the organization so we can operate more efficiently', PepsiCo said in a memo to its employees

Food, snack and beverage company PepsiCo Inc is reportedly laying off its employees, signalling that cost-cutting exercises have extended beyond tech and media companies, as reported by the Wall Street Journal (WSJ). 

A person aware of the matter told WSJ that hundreds of jobs will be eliminated. The employees at the company's headquarters in Purchase, New York and its snacks and packaged-foods business headquartered in Chicago and Plano, Texas, are reportedly being laid off. 

It is being done "to simplify the organization so we can operate more efficiently", the company said in a memo to its employees. 

The WSJ report