As Americans switch from soda to healthier beverages, carbonated drink makers have been losing sales in the United States, and Pepsi has been feeling the pinch even more than its main competitor, Coca-Cola.
Now, PepsiCo is trying to cut costs by slashing 8,700 jobs in 30 countries.
"As we implement our strategic priorities in 2012, we've had to make some tough decisions," Chief Financial Officer Hugh Johnston said in a statement when the job cuts were announced.
The company will also try to win back North American consumers, increasing its spending on advertising and marketing by at least $500 million this year.
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