PepsiCo is cutting jobs at its business in Ireland as part of efforts to “position the company for efficiency and growth”.
In a brief statement sent to Just Drinks, the US giant did not disclose the number of roles affected at its local base in the western city of Cork.
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“PepsiCo is proposing some limited organisational changes at its Cork business as part of an ongoing business transformation to position the company for efficiency and growth,” the Pepsi Max and Doritos brands owner said.
“The company is working closely with employees who were impacted, ensuring they are fully supported and kept informed throughout this process. Ireland remains a strategically important location for PepsiCo and the company remains committed to maintaining a strong presence here.”
In September, PepsiCo’s expansion plans for a production and warehousing facility in County Cork were refused permission.
Last year, the group applied for a four-storey expansion to a production and warehouse building at its site in Little Island.
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By GlobalDataThe expansion was planned to provide an additional 12,207 square metres of floor space over four levels. The site produces concentrates for brands like Pepsi, 7Up and Mountain Dew.
In North America, PepsiCo is facing scrutiny from activist investor Elliott Investment Management.
In September, Elliott called for the Lay’s crisps maker to review the make-up of its businesses in North America after a period of “poor financial results”.
At the time, Elliott, which manages funds with a $4bn stake in PepsiCo, said the company was at “a critical inflection point”.
The investor was more positive about PepsiCo’s business outside North America. It said the company had “demonstrated robust growth in high-potential international markets and there remains substantial runway for continued expansion”.
PepsiCo chairman and CEO Ramon Laguarta has said the business is “acting with a sense of urgency on both portfolio transformation, simplification of the portfolio, cost reduction to invest in future growth”.
