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Frito-Lay to cut up to 250 jobs as part of a plan to curb costs

NEW YORK (AP) — PepsiCo Inc.'s Frito-Lay snack foods division plans to cut as many as 250 jobs as part of a broader cost-cutting restructuring by its parent company that will result in a $65 million to $85 million pre-tax charge against earnings.

Frito-Lay said Wednesday the staff cuts will be made mostly in its Plano, Texas, headquarters and other offices throughout the U.S. The division employs 46,000 people.

The staffers who will lose their jobs will be notified in early December.

PepsiCo, which also owns the nation's second biggest soft drink company and is based in Purchase, N.Y., said earlier Wednesday it planned to restructure certain operations to cut costs and reduced its year-end forecast to reflect the expense of the changes.

The company did not provide details on the changes, but Frito-Lay later announced the potential impact that it will have on jobs in that division.

PepsiCo shares finished unchanged to close at $58.30 on the New York Stock Exchange, where they have traded in a 52-week range of $49.82 to $59.39.