Pepsi bottler to axe 3,000 jobs in restructure

The company, which has operations in Russia, Spain, Turkey and Greece, will also cut 750 jobs in the US and Canada and axe 2,200 positions in Mexico.

The cuts are part of its “Structure to Succeed” programme which aims to strengthen its customer service and selling effectiveness, streamline decision-making, drive greater cost productivity and rationalise its supply chain.

The company said the cuts will cost up to $170m (£113m), but will result in annual pre-tax savings of up to £160m, beginning with around $70m savings in 2009.

Eric Foss, chairman and chief executive, said: “These moves will allow our business to better deal with the challenging macroeconomic conditions that currently exist.

“Once completed, the initiative will improve our operating fundamentals and position us well to capitalise on long-term growth opportunities,” he added.

The company told Packaging News that the restructuring would be completed within three years.

In September, the company reported that its third-quarter profit fell to $231m.

The company employs 70,000 people globally.

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