The Pepsi Bottling Group has slashed its 2008 earnings outlook and announced that 3,000 jobs would be cut worldwide. The company will be closing four facilities and axing 750 employees in the U.S. in addition to “streamlining its organization” in Europe and Mexico. All of this is going down while the company is still profitable — it expects to earn $2.32 per share this year.

[CNN] Pepsi Bottling to slash 3,000 jobs