I've been told that my role will end soon and I should find another position. I'm over 55 and have worked with the company for 20+ years. Has anyone else been through this? I would like to know what to expect. What happens if I don't find another role?
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I survived and I am a thousand times happier than I ever imagined I could be outside of Frito-Lay. After the initial shock of being let go, you will become angry. After the anger, you get sad and nervous about being unemployed. Once the dust settles, take your time to look for a new job. You now get to choose what comes next. Set up a profile on LinkedIn and sell yourself through confidence. You will love your new life! Good Luck!!
I took the voluntary retirement package a couple years ago. Similar situation, late 50s, over 25yrs of service. The package was good, basically a year paid with benefits. Found a new job, happier now
There are still non competes it is tied up in the legal system at the moment. Was granted a stay.
There are no non competes anymore - they were banned by the FTC.
Don’t trust it when you are told by anyone they will help you find another position. It’s lip service. I have seen competent, loyal people who were told they would be helped. One found another internal comparable job on her own and she found out no one was looking for anything for her.
What does the non-compete look like for Key Account Managers?
I think my biggest question is can I wait it out for a package or am I forced to accept roles that I'm not interested in or poorly matched with?
wait for the package. they give you I think 3 months when they tell you. you can look for jobs during when they tell you your last day. then you can collect a package and get a new job at the same time
Likely, you will not find another role, they are putting the burden of staying employed at PepsiCo on you, this is another example why game plan and people plan is just for show with little real impact in peoples careers. Sadly, the situation you are going through is very common, I have seen it happen to three colleagues recently and I am thinking not if but when will happen to me too.
Having seen those cases before, my recommendation is to start knocking on doors, apply for jobs in other companies, while building bridges with peers and stakeholders here, they can help you find opportunities within their personal networks. Don't be bitter because that will close doors for you, get something, be safe, and then you can berate and be open at how awful this company is treating long timers.
Take it and run