Its popular array of snacks includes Lay’s, Cheetos, Doritos, and Funyuns, as well as drinks like Pepsi and Mountain Dew.

PepsiCo Inc. reached an agreement with activist investor Elliott Investment Management to reduce its US product lineup by 20% and lower prices, while the company also pares its workforce.

The company will also reduce the number of items it sells by about 20% in an effort to reduce costs and put focus on more popular items.

PepsiCo — the New York-based food and beverage company behind Frito-Lay products like Doritos and Cheetos, as well as drinks like Mountain Dew and Gatorade — is doing just that. In a financial outlook plan shared Monday, the retail giant announced a triad of major expectations for the year ahead, and it’s a classic case of good news, bad news.

Trump announces $12B farm aid package, Paramount bids for Warner Bros. Discovery, Pepsi reduces product lineup, Americans drink more milk.

PepsiCo has announced that they will be cutting some products, but also cutting some prices, in the upcoming year. Here are the details of the plan.

PepsiCo Inc. (NASDAQ: PEP) announced a set of operational changes backed by activist investor Elliott Investment Management on Monday, including a supply chain review and a streamlined product lineup.