PepsiCo to cut prices on snacks by up to 15%, WSJ reports

PepsiCo (PEP) plans to cut prices by up to 15% on snacks like Lay’s and Cheetos due to consumer complaints about high costs, The Wall Street Journal’s Laura Cooper and Jesse Newman report. The price reductions are part of PepsiCo’s strategy to boost sales, following an agreement with activist investor Elliott Investment Management. “Consumers told us they need more value,” said Rachel Ferdinando, CEO of PepsiCo’s U.S. food business.