
NY Post: Pepsi Will Lay Off 1,000 Employees to Fund New Marketing Initiatives
After a year in which Diet Coke surged past Pepsi as the third bestselling soft drink in the U.S., PepsiCo will dramatically increase the size of its marketing budget in 2012 and lay off more than 1,000 employees – included some at its Purchase, N.Y. headquarters – to partially offset the costs, according to The New York Post. While PepsiCo declined to comment on the matter, The Post cited three sources who confirmed the details of the plan.