Think about it, if this shrinking proves to be successful, and it probably will cause the people that are left are going to be working their asses off, out of fear of layoffs and are willing to pick up the workload that will be left by the cut workers, whos to say they aren’t gonna take these reorgs even further and try to get better results with even fewer people?
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The so called “Senior Leadership” in IT does not understand what these lay-offs mean. IT’s led by an office admin hack and a whole bunch of spineless people that only take marching orders from the top - finance .,, Business will suffer when they have these companies from India build their systems and support them. It’s only a matter of time ...
I agree. It’s a tough situation to be in. Certainly people don’t want to loose their jobs, but PEPSI overloads people. Our competitors have 2-3 people that do the same job of 1 PEPSI person. It’s greed and taking advantage of people.
Building on the prior reply, 70% of the restructuring costs are employee/severance related. After this year, that leaves another $800+MM at least for more job cuts in this productivity plan.
Restructuring will continue thru 2023...
Purchase, N.Y., firm said Friday it expects to incur about $2.5 billion in pretax restructuring charges through 2023, with most of the charges coming from severance and other employee costs. The company's 2018 results included $138 million of restructuring costs, and it expects to incur $800 million in the current year.