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发帖数: 901 | 1 NEW YORK (AP) -- PepsiCo plans to cut 8,700 jobs, or about 3 percent of its
workforce, as it seeks to offset high commodity costs and increases
investment in advertising and marketing in North America.
The maker of Pepsi soda, Tropicana juice and Doritos chips also reported
better-than-expected fourth-quarter results on Thursday. But it forecast a
decline in adjusted 2012 earnings, and shares fell 2.7 percent in premarket
trading.
The company said it expects the restructuring will save an additional $1.5
billion by 2014 — on top of $1.5 billion in cost cutting it previously
announced.
The announcement of the job cuts came as the company reported slightly
higher earnings for the fourth quarter.
Snack and soda makers are facing high commodity costs and changing consumer
tastes toward healthier snacks and drinks. Pepsi's rival Coca-Cola Co.
announced its own cost-cutting program on Tuesday, although Coke said its
plan would ultimately add jobs. PepsiCo has been losing ground to Coke, on
the soda side at least, since Coca-Cola has more of an overseas presence,
particularly in emerging markets. Pepsi's snack business has been stronger.
Pepsi said "tough decisions" were needed because it expects 2012 will be the
second year in a row with higher-than-average costs for commodities. It
said it is not able to offset those costs with higher prices because of
consumer caution in light of the uncertain economy, so the plan to cut costs
elsewhere is needed.
"2012 will be a year of transition, one in which we will make the right
investments to position PepsiCo properly to achieve long-term high-single-
digit core constant currency earnings per share growth," CFO Hugh Johnston
said in a statement.
At the same time, PepsiCo plans to increase advertising and marketing behind
its brands by $500 million to $600 million in 2012, with a particular focus
on North America. It also plans to increase dividends and share buybacks in
2012 to return cash to shareholders. It also plans to invest $100 million
on in store racks, displays and coolers.
Meanwhile, the Purchase, N.Y.-based company also said Thursday that its net
income for the quarter ended Dec. 31 rose 4 percent to $1.42 billion, or 89
cents per share. That's up from $1.37 billion, or 85 cents per share, last
year.
Excluding restructuring and other costs, net income w |
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