PepsiCo (NYSE: PEP) announced on Thursday that it is planing on cutting around 8,700 jobs at it looks to restructure business in an attempt to offset commodity costs and increase investment in advertising and marketing in North America.

PepsiCo, which makes Pepsi soda, Tropicana juice and Doritos chips said on Thursday that the job cuts represent 3 percent of its workforce, not a particularly high number but not something that will be of any comfort to the 8,700 families having to find work in a difficult economy.

PEP says that it expects to save an additional $1.5 billion by 2014, o top of the $1.5 billion in cost cutting that the company had previously announced.