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Hudson Valley-Based PepsiCo Cuts Jobs After Flat Sales

PepsiCo's offices in Purchase
PepsiCo's offices in Purchase Photo Credit: Google Maps

Westchester-based PepsiCo reported flat sales in the closing months of 2017 and announced on Tuesday that it will cut jobs while offering bonuses of up to $1,000.

The layoffs will affect corporate employees, amounting to less than 1 percent of its more than 110,000 employees, the company said.

Bonuses go to those who make PepsiCo's snacks and drinks, and those who deliver them.

PepsiCo, whose headquarters is in Purchase, cited a major overhaul of the nation's tax code for the bonuses. PepsiCo did not say how many workers would receive them, or what the criteria is for the size of the bonus.

The company will use its tax savings to bump its annual dividend by 15 percent and increase its share buyback program to $15 billion, from $12 billion.

However, sales slipped across its businesses in North America, including its soda and water unit, Doritos maker Frito-Lay and oatmeal business Quaker. Sales rose in Latin America, Europe and Africa.

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