PepsiCo is an evil, evil company. People give their lives and their best years and they just discard them like trash. Age discrimination at its finest and they get away with it. Someone should stop them.
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The business team is flying jets around to the Super Bowl and NBA all star game while people are losing their jobs. All of the employees they disrespect are on expense contingency. A French company called PepsiCo out for their practices, then the President of the US did the same. Our leadership doesn’t even attempt to hide that they have no ethics anymore. Front line made less money while the leaders made bank. Of course the execs will blame the front line for their failures, but that’s ok, the front line won’t be around to hear it. They’re too busy quitting.
PepsiCo needs to be exposed. I dont care about all of your comments. My father worked for the company for 39 years. Myself for 12. What a great company in the 80's and 90's
Company car, profit sharing and gifts 🎁 they took care of their people.... enter the publicy traded PepsiCo.... I had to pay $1 to buy a can of Pepsi from our employe lunch room. What a joke.
Profit share gone. Wages cut.......greed sets in. Nit just greed but to the very boundaries of the law. Sometimes crossing over the law. Old experienced bosses retired and new young brainwashed slaves and shitstains take over .
Just trust me. I grew up Pepsi not PepsiCo. Seen the great years... and now share holders mean more then human life and people
This has been going on at PEP for many years. I'm not sure why people are surprised. Hopefully you have kept your eyes open and been saving for this day. I was affected in 2005.They made me take half my pension in a lump sum and the other half I could roll over. I've never heard anyone being treated like that. Therefore I lost a significant amount of my pension to taxes. I talked to an attorney. He wasn't able to help for several reasons that I won't go into in a public forum. Just know you won't get anywhere against a giant corp. My advice is network with your colleagues and more forward. It is a bitter experience but it doesn't have to make you bitter.
You won't get anywhere with an attorney. Notice they are hitting the over 55. Before 53.5 years you can claim they cut you for pension, they bridge you to 55 after that. Pepsico has lawyers too and they know how to do this. They waive the severance package at you and no one wants to risk losing that. In our case they replaced us with Mexico and India hires, but states they would tell unemployment office that our jobs were eliminated, so they are working government funded unemployment benefits in as part of their severance package.
This is misinformation. You can literally look up any year’s Form 11-K Pepsico files with the SEC. It’s searchable Lenin the internet and has specific match info. It was not 100% on any of the year I checked it clearly stated 50% match on each 11-K.
Some more facts about how evil Pepsi is. (Those with the snarky capitalism comments can go scratch. We're allowed to be angry, you HR sycophants.) So, they just dropped the employee matching from dollar-for-dollar up to 6% of your salary to 50 cents. Nice stealth pay cut that no one read about in their 11/29/2022 email. People that were rebadged in 2014 and reacquired sometimes days later were told that they were grandfathered back in to their hire date, but are being given severance packages from the date that they were reacquired, not their hire date (which is often decades different). Looking at the names that I'm aware of that were impacted, every last one of them is over 55. For myself, I'll be exploring my options with an attorney.
What I don't understand is PepsiCo bragging about record profits yet lay off every year. Totally understandable if company was failing but not when you exceed expectations. I'm sure that's another lie.
Companies view pensions as a zero value-add expense now. No one else offers them so they have no pressure to honor them. Your compensation for spending your 'best years' is your paycheck
Every company does this. If you don't want it, you should work for yourself. Not trying to sound mean but it's just part of the deal in corporate America.
You must be new here. Welcome to capitalism. 🤑