Totally glossed over by new leadership. While Indra was not perfect, she owned the responsibility of the bad news to employees as well as good news.
That you have to read news reports and SEC 10k filings because the company has taken an "ignore the elephant approach" is in a word, non backboned.
Correction to last post.
Flairs should be flares and mirroring US population should be population across the areas where we operate.
PepsiCo needs to understand that while there may be no easy way to do this, there are options that they should seriously consider. Other large companies ask for volunteers. We were told last year that “we don’t do this”. My question is why not?
While the immediate monetary impact may be a little larger there are defined benefits. It seems logical to me that the reduction of head count of long term employees who are ready and willing to leave would have a long term net-net impact of zero. Take for example a 20 year employee who is ready to retire but is not on “the list”. They may wait another calendar year to see if they are on the list next February. They are then drawing 52 weeks of salary and benefits rather than 40. It’s not rocket science.
Additionally the amount of stress the current approach has on all employees needs to be considered. Stress will kill people and unfortunately this seems to have held true this year. There has to be a large population of employers with chronic diseases (mirroring the percentage of the US population) where stress is a major contributing factor of flair ups, think RA, MS, Crohns, IBS, Lupus etc. Flares result in lost productivity.
Lastly, sleep is in short supply during this seemingly annual event which also
impacts productivity. That coupled with the intense desire to find out what is going on and who is impacted means that the amount of true work that happens in the designated week before and during this time frame is less for a lot of people.
Wake up PepsiCo, there is a better way to handle it!
Indra doesn’t deserve credit. She was bad. Unfortunately, current leadership is even worse.
The closest you’ll get to a statement on the layoffs is the SEC notice for the stock Indra, Hugh, Ramon, and the other cronies sell off to pad their fortunes.
A significant upswing in financial productivity numbers to be so silent considering 2019 is an expense of 800mil which is about 560 going to severence and employee cost. Last years was 180mil.
too much credit for Indra , she just gave a general message , it is the local HR that has the job to give this message. In some cases : "Indra has decided , here is your letter , you are not allowed to greet your colleagues , you will receive your money in a few weeks . "