PepsiCo to cut product lineup, jobs in US in cost-saving efforts

PepsiCo plans a 20% reduction in its US product lineup, a sharper focus on affordability, and layoffs as part of cost reduction efforts. The moves represent an agreement with investor Elliott Investment Management as the firm seeks to recapture growth and win back investors. Elliott flagged some cereals, including Quaker Oats and Rice-A-Roni, as brands company might want to divest.