Economy's Next Victim: Pepsi

By Marcus Gilmer in News on Oct 15, 2008 4:25PM

The financial clusterfuck has reached a level we thought it never would: affecting cola sales. In response, PepsiCo is preparing to cut around 120 jobs from its Barrington and Chicago offices. The company plans to cut 3,300 jobs nation-wide. As people eat out less and make less gas station stops (since they're driving less), soda sales have fizzled, according to Pepsi Chief Financial Officer Richard Goodman, who said, "The beverage business was clearly the soft spot. The whole category has continued to be soft this year."