PepsiCo to lay off hundreds of employees – Yahoo Finance

PepsiCo sector and division headquarters-based workers will be working from home through Wednesday as the world’s second-largest food and beverage business finalizes job cuts, according to a memo obtained by FOX Business correspondent Charlie Gasparino.
On Monday, the owner of brands including Pepsi, Lay’s and Cheetos announced a plan to streamline marketing and centralize manufacturing that will lead to hundreds of eliminated jobs at facilities in Texas, New York, and Illinois.
PEPSICO TO LAY OFF HUNDREDS OF WORKERS IN HEADQUARTERS ROLES
According to a company memo, Kirk Tanner, the CEO of PepsiCo Beverages North America, said, “The unfortunate reality of this transformation is that it involved difficult decisions that will impact our people.”
“Following this message and over the course of this week, we will be notifying those who are impacted by this organizational change,” he continued. “While we know this change will strengthen our company, it is a difficult message to convey knowing we are making the tough choice to eliminate roles.”
Tanner said the change led to unquestionable success but continued growth requires the company to honestly assess its fitness as an organization and evolve.
READ ON THE FOX BUSINESS APP
“We recognize the changes will be difficult for individuals and for our teams, and we are committed to treating people with respect, care, and providing a comprehensive severance program to offer strong transition assistance to those who will be leaving the company,” Tanner added.
PepsiCo attributes the impending layoffs to navigating the coronavirus pandemic and changes to the industry. As of Christmas last year, the beverage company employed roughly 309,000 people around the globe, including approximately 129,000 people in the U.S.
JOB CUTS SURGE 127% IN NOVEMBER AS COMPANIES BRACE FOR ECONOMIC DOWNTURN
In addition to the soft drink, PepsiCo makes Doritos, Lay’s potato chips and Quaker Oats.
PEPSICO SAYS SODA, SNACK PRICES MAY RISE
The Wall Street Journal first reported the layoffs.
CLICK HERE TO GET THE FOX BUSINESS APP
Related Quotes
SWDBY vs. RY: Which Stock Is the Better Value Option?
Joe Raedle/GettyRight-wing undercover operative James O’Keefe has launched holiday-season layoffs at his nonprofit amid an FBI investigation and a series of other legal problems facing the group.O’Keefe announced the Project Veritas layoffs in a Nov. 28 internal email reviewed by The Daily Beast. Roughly six people will be laid off, according to a person familiar with the plan.It’s not clear how many people work for Project Veritas, but its tax returns from 2019—the most recent available—list 45
The crunch time for holiday shopping – and shipping – is just about here. And if you need to send your gifts across the country or want to order something to arrive in time to give in person, it's…
Passive investing in index funds can generate returns that roughly match the overall market. But one can do better than…
Yahoo Finance Live anchors discuss reports that PepsiCo will lay off hundreds of corporate workers in an effort to cut costs.
(Bloomberg) — Russia’s war in Ukraine has opened a door for South Korea’s defense exports, which are on track to more than double this year as buyers seek to replace Soviet-era weaponry with higher tech arms from the Asian country.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernWall Street Goes Risk Off as Bank CEOs Sound Alarm: Markets WrapEx-Deutsche Bank Trader Builds $6 Billion Fortune on Trading BoomTrump Companies Are Convicted in NY Criminal
Beverage and snack giant PepsiCo may be planning layoffs. But analyst takes were mixed on what the cuts meant for the industry.
At Johns Hopkins, Alicia Wilson helped the institution give back to the city by creating expungement clinics to help make it easier for formerly incarcerated people to get jobs, and spearheaded efforts to expand the hiring of minority businesses.
PepsiCo is looking to cut hundreds of jobs at its north American snacks and beverages division, the Wall Street Journal reported.
The pledge is in response to a shareholder proposal asking the company to reduce dependence on single-use plastic packaging.
Tech is getting the headlines, but layoffs are actually happening across industries.
The vote will determine whether President Joe Biden's Democrats win an outright majority in the Senate.
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 14x, you may…
(Bloomberg) — A more expensive Christmas cake is the latest inflationary hit to Japan’s festive season.Most Read from Bloomberg‘Huge, Missing and Growing:’ $65 Trillion in Dollar Debt Sparks ConcernWall Street Goes Risk Off as Bank CEOs Sound Alarm: Markets WrapEx-Deutsche Bank Trader Builds $6 Billion Fortune on Trading BoomTrump Companies Are Convicted in NY Criminal Tax Fraud TrialWorld Economy Heads for One of Its Worst Years in Three DecadesThe average price of a holiday season cake has ri
Surveys regularly show that older Americans have regrets about lots of things — working too much, choosing the wrong partner, not taking care of their health, etc. There are often financial regrets too, such as not saving enough, and investing to little for retirement.
NBT Bancorp, the parent company of NBT Bank, is acquiring Salisbury Bancorp Inc. of Connecticut in an all-stock transaction valued at $204 million. The acquisition will allow the Norwich, New York-based bank to expand its footprint to cover the Hudson Valley region of New York. Salisbury Bank and Trust Co. is a community bank headquartered in Lakeville, Connecticut.
Dave & Buster's shows rising price performance, earning an upgrade to its IBD Relative Strength Rating
With the broad market averages rallying this month the improvement in the charts of PFE could be more short covering than new outright buying. In this updated daily bar chart of PFE, below, we can see that prices have rallied from early October. The On-Balance-Volume (OBV) line is in a parallel upward trend and the Moving Average Convergence Divergence (MACD) oscillator is bullish.
Hack VC and Blockchain Capital led the round.
Everybody hates being told what to do, and retirement investors hate it even more when being told what to do comes with a hefty tax bill – which brings us to the IRS rule known as required minimum withdrawals, or … Continue reading → The post Here's the One-Word Secret to Lowering the Tax Hit on your IRA RMDs appeared first on SmartAsset Blog.

source

brucemeyernet

Learn More →

Leave a Reply

Your email address will not be published. Required fields are marked *