I have 42 years with Pepsi and I am a sales rep. I am also 63 years old. Hoping to go to 65 but I worry every day that I will be part of the 2.3 billion dollar restructuring so that they can bring in some younger campus recruits or military personnel. Am I worried about nothing?
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Yes you should be worried. it is very possible that pepsi will offer voluntary buyouts for employees that meet the requirements just remember, if offered you dont have to take it.
Canada employees are awarded severance based on Canadian Employment Law, not PepsiCo differences in generosity. Canadian Employment Common Law allows for 1 month per year of service. Typically 2 years is the max but there are cases of greater awards based on special circumstances.
Canada gets 2 years
I heard that some people get 2 years. Why the difference? Is it age and years of service?
I was let go two months ago after 35+ years. Completely blindsided by it. Same age as you. I was hurt and felt discarded at the time. It's amazing how different I feel now. Your severance will go for a year and then you can start your pension and social security. It's not ideal financially but bottom line you are out of that toxic environment. Don't worry, you'll be fine if it happens
Enjoy your retirement.
Seen it happen many times, unfortunately. Good luck.
I was with Pepsi for 30 years and only had a couple years until retirement. It does not matter. My termination was fast and I was walked to my car. There was no discussion of retirement options. You get your severance, you sign the gag order and you are an outcast from that point forward.
Tenure = not so safe if you are HQ based. These things don't normally affect the RSR level, that said never assume anything. My last day is 3/21/20 with 40 years. Good luck
42 = 2/3s of your life that you have dedicated to this Company. You should be proud of this long tenure with Pepsi. If they decide to let you go for whatever reason, you should be looking for an alternate way to figure out the next chapter in your life. Hopefully you have planned well for the future and with a pension awaiting you and close to retirement, you should not be worried about a thing. I wish you success as you approach the next chapter in your life. There is life after PepsiCo.
No one is "safe". You have to be prepared.