PepsiCo to cut about 1,000 North America jobs

PepsiCo will cut about 1,000 jobs in its North America business over the next week as it works to turn around lagging sales in its home market, according to a letter to employees from the unit's chief executive obtained by CNBC.

Why it matters: The cuts are the clearest step yet in PepsiCo's home market turnaround after it lowered its 2026 earnings outlook in October, with North American beverage volumes down 2 percent in the third quarter and food volumes flat.

Data as of CNBC report of November 9, 2026, read in full via the estate browser route in this run; the Wall Street Journal first reported the coming layoffs, and CNBC obtained the Monday letter to employees from PepsiCo North America chief executive Ram Krishnan. Volume and outlook figures are CNBC's account of the company's third quarter reporting and October outlook cut. Developing item.

PepsiCo will cut about 1,000 jobs across its North America business over the next week, CNBC reported, citing a Monday letter to employees from Ram Krishnan, chief executive of PepsiCo North America, in which he said the unit needs to be faster and more connected while continuing to invest behind its people, capabilities and brands. The Wall Street Journal first reported the coming layoffs. PepsiCo employs about 306,000 people worldwide, including roughly 125,000 in the United States.

The cuts sit inside a home market turnaround that is running behind plan. PepsiCo lowered its 2026 earnings outlook in October, and in the third quarter North American beverage volume fell 2 percent while North American food volume was flat; finance chief Steve Schmitt told the earnings call that despite price cuts and added marketing investment the turnaround is taking longer than expected. Shares rose slightly in afternoon trading on Monday, and are down nearly 1 percent this year against a gain of nearly 11 percent for the S&P 500.

PepsiCo to cut about 1,000 North America jobs

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