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Pepsi to Cut 3,300 Jobs

US credit crisis threatens

PepsiCo, beverage and food company based in Purchase, New York, announced plans on Tuesday to cut 3,300 jobs as it reported a 10 percent decline in third-quarter net income.

In a statement Pepsi said, The quarter was hurt by continued weakness in its U.S. liquid refreshment beverage category, which resulted in disappointing performance in its domestic beverage business.

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