PepsiCo's 10-K (sec.gov, 2/15/19, p.56) states "approximately $800 million is expected to be reflected in our 2019 results. These pre-tax charges will consist of approximately 70% of severance and other employee-related costs."
$560M will fund 2019 severance packages for thousands of employees.
There is definitely a major field restructure.
There's no way we're getting 800MM out of IT and admins. This has to be beverage and snack re-alignments more than anything. NAN gone. PBC 8 to 4 regions. Quaker folded into FLNA. FLNA delayering. Some IT/Finance/Administrative in there too...
Are these mostly IT and admin jobs?