Pepsico cuts jobs after soda revenues fall in Q4

Pepsico cuts jobs after soda revenues fall in Q4

Mubasher: The world's giant food and beverage company Pepsico on Tuesday reported a decline in revenues from soda products during the fourth quarter of 2017.

Revenues from Pepsico’s drinks and snacks unit fell to $5.9 billion in Q4-17, matching analysts’ forecasts, compared with revenues of $6.3 billion in the same period of the previous year.

The company, which has reduced costs by about $1 billion since 2015, announced it would reduce the number of its employees in the US by around 1%.

On another note, Pepsico said it had incurred a charge of $710 million due to the US tax reform.