New Delhi: Global food and beverages major PepsiCo, which on Thursday announced 8,700 job cuts worldwide, did not provide country specific details - including impact on employees in India - but said its business was "fantastic" in the country.
"To ensure that our business can continue to grow, we unfortunately have to make some adjustments to our workforce across 30 countries worldwide, and we are not providing specific details by country at this time," PepsiCo Asia, Middle East and Africa Senior Director, Corporate Affairs, Huw Gilbert said.
He said it employs over 6,000 associates in India.
Commenting on the performance of Indian market PepsiCo Asia, Middle East and Africa CEO Saad Abdul-Latif told analysts and investors in New York today, "We have a fantastic business in India, both in foods and in beverages."
The company is undertaking a major effort to make itself more cost-competitive and improve global profitability.
PepsiCo on Thursday said it will lay off about 3 percent of its global work force of 8,700 employees in 30 countries, and are part of a broader productivity program to slice USD 1.5 billion in annual costs by 2014.
Gilbert said, "These decisions are always difficult for everyone involved, and we are committed to assisting affected individuals throughout the process. Any changes affecting our employees will be communicated fully to them first."
The company has announced it would spend USD 500-600 million in advertising and marketing in North America.