PepsiCo cuts 20% of North American products and lowers prices by 2026 to boost growth, driven by activist investor pressure.

PepsiCo is cutting prices and phasing out nearly 20% of its North American product lines by early 2026, following pressure from activist investor Elliott Investment Management, which bought a $4 billion stake in September. The changes aim to boost affordability, drive innovation, and increase profitability, focusing on simpler ingredients and new products like Doritos Protein, Simply NKD Cheetos, and a prebiotic cola. Savings will support marketing and value-focused brands. The company projects 2%–4% organic revenue growth in 2026, up from 1.5% in the first nine months of 2025, and plans to review its supply chain and board structure. Shares remained flat after the announcement.