Friday September 22, 2023
The Best Employers in Sports Survey is Now Open!

Sports Drink Leader PepsiCo Laying Off Hundreds

  • Gatorade-maker PepsiCo is following the lead of many tech companies and cutting staff.
  • The company has leaned into energy drinks recently.
Dallas Cowboys team forms huddle in front of Pepsi advertisement
Matthew Emmons-USA TODAY Sports
Front Office Sports Today

Could Promotion-Relegation work in College Football?

The proposal aims to create an exciting media product while reducing travel for non-football sports.
Listen Now
September 21, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

A major sports beverage maker is just the latest household name to slash its workforce.

PepsiCo, parent company of Gatorade, is laying off hundreds of employees, according to the Wall Street Journal.

The cuts were weighted more toward the company’s beverage sector than its snacks unit, which already reduced its workforce via a voluntary retirement program.

  • The company had roughly 309,000 global employees one year ago, including around 129,000 people in the U.S.
  • PepsiCo brought in $22 billion in the fiscal quarter ending Sept. 3, beating analysts’ expectations with a 9% year-over-year increase.
  • Net income rose 21.5% to $2.7 billion in the quarter.

The food and beverage giant, which also owns Frito Lay and Quaker Oats, among others, has leaned into energy drinks recently.

PepsiCo followed its $3.85 billion acquisition of Rockstar in 2020 with July’s $550 million investment in Celsius Holdings, which makes fitness-focused energy drinks. It also launched a caffeinated version of Gatorade in August in collaboration with the NFL.

Halftime Show

Apple Music Lands Super Bowl Halftime Show Sponsorship Deal

Apple Music takes over as sponsor of the Super Bowl Halftime Show.
September 23, 2022

Tech Trend

Headlines announcing layoffs have been a familiar sight of late due to big cutbacks in the tech sector. Amazon is shedding around 20,000 employees, while Meta let go of around 11,000.

Google is following suit with plans to lay off around 10,000 employees.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

A view of the Spurs club badge on the exterior of Tottenham Hotspur Stadium in London.

Tottenham, Valued At $2.8B, Says It's Open To Stake Sale

The club's chairman says new minority investors could come on board.

England Women’s Team Resolves Pay Dispute After WWC Success

Agreement arrives a month after the end of the 2023 Women's World Cup

Adidas CEO Stands Behind Ye Nearly Year After Brand Cut Ties

Gulden's comments mark rare and surprising corporate move
Chelsea-FC

Chelsea Gets $500M For Stadium Projects, Club Acquisitions

The Premier League club is receiving crucial new investment.
podcast thumbnail mobile
Front Office Sports Today

Could Promotion-Relegation work in College Football?

0:00
0:00

Featured Today

Teams without secured venue situations could be left out of a potential XFL-USFL merger.

XFL-USFL Merger Could Drop Teams, Change League Name

Teams without secured venues could be cut from a XFL-USFL merger.
September 21, 2023

Rupert Murdoch's Exit Leaves Lasting Fox Sports Legacy

Rupert Murdoch steps down as chairman of Fox Corp. and News Corp.
Could ESPN lose events such as the NBA Finals if it sold ABC.
September 21, 2023

Selling ABC Poses Billion-Dollar Dilemma for Disney and ESPN's Future

Losing ABC would create complications as ESPN enters NBA rights negotiations.
Boise State Broncos running back Ashton Jeanty (2) runs the ball against the North Dakota Fighting Hawks during the first half at Albertsons Stadium.
exclusive
September 20, 2023

The First Official Proposal for Promotion-Relegation In College Football

Realignment is forcing Group of 5 schools to rethink their structure.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
Topgolf
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
Endeavor
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.
Barstool Sportsbook is owned by Penn Entertainment.
May 5, 2023

Penn Clashes With Barstool After Firing, Earnings Miss

Penn Entertainment's earnings missed and the company clashed with Barstool.
A view of the outside of Adidas' flagship store in Shanghai.
May 5, 2023

Adidas Beats Revenue Expectations Despite Costly Yeezy Struggles

CEO admits that the loss of Yeezy is “of course hurting us.”