PepsiCo VP David Schwartz said that partnering with startups is important for the company.

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Pepsi labels are seen on plastic bottles of the soft drink displayed on a store shelf June 13, 2006 in Des Plaines, Illinois. Doctors at the annual American Medical Association meeting in Chicago this week have called for a "fat tax" on sugary soft drinks to help fight obesity in the U.S.

The American multinational food and beverage corporation employs more than 250,000 employees across the world. 

This is a large number compared to other smaller businesses and companies. 

However, Schwartz said that although the recruitment sector of PepsiCo is quite large, they can't generate all the best ideas all by themselves. 

PepsiCo VP Shares Why Partnering With Startups is Beneficial

According to ZDNet's latest report, David Schwartz is the vice president of PepsiCo Labs, the company's team handling technological innovation. 

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A photograph shows a US multinational food, snack, and beverage corporation PepsiCo plant in Domodedovo, outside Moscow, on March 9, 2022. - Coca-Cola and PepsiCo are suspending business in Russia, the soft drink giants announced on March 9, 2022, as corporations and Western governments penalize Moscow for its invasion of Ukraine.

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This means that Schwartz is among the leaders who are tasked to create ideas that can further enhance PepsiCo's business activities. 

He explained that working with smaller firms across the globe can help the beverage corporation to generate a competitive advantage. 

PepsiCo Labs' vice president further stated that this could be done by relying on external innovation to enhance the company's internal capabilities. 

"We have phenomenal talent at PepsiCo. But we also understand that some areas of deep tech have so much backing from the venture capital world," said David. 

PepsiCo to Conduct Cost-Cuttings? 

Although PepsiCo is working with startups, the food and beverage company is still having some problems when it comes to generating revenues. 

Just Food reported that PepsiCo would terminate some of its employees in Belgium as part of its cost-cutting effort.

Rumors claimed that almost 50 workers might lose their positions. As of writing, PepsiCo has around 950 employees in Belgium. 

Although the estimated number of workers who could lose their jobs is quite small, this shows that the beverage company is struggling financially. 

If you want more details about PepsiCo's status in Belgium, you can click here. 

In other stories, 1WorldSync's new chief revenue officer was previously welcomed. 

Meanwhile, TSMC's productions for Biren Technology were halted. 

For more news updates about PepsiCo and other companies, keep your tabs open here at TechTimes.  

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Written by: Griffin Davis