So another IT Town Hall tomorrow with more miraculous numbers and testimonials of amazing progress. Where does this information come from? All I hear is a consistent and firm message from the business that IT service severely s---s and there is absolutely no trust in IT doing even the most menial tasks. Ohh but ticket counts are down, productivity is so good they can lay off another batch of the faithful. Let's face it, outsourcing is a disaster. It has only been kept alive by very loyal retained employees who actually gave a S*IT. Now Pepsi has showed their thanks by wacking another round of the loyal Pepsi patriots. While the vendor is still trying to master staying in the lines with their crayons, leadership will try to motivate another group of restructuring survivors that will inevitably fall to friendly fire once again. Rally cries to "act like an owner" and "win together" which are nothing more than fodder aimed at driving stock prices up so that you can find yourself lost in the job market trying to feed your family while the leadership sleeps comfortably dreaming about the stock pots of gold they all have. For those of you battling in the trenches, you have had major success ! Your efforts have resulted in; "As Chairman of the Board and CEO at PEPSICO INC, Indra K. Nooyi made $25,891,211 in total compensation. Of this total $1,700,000 was received as a salary, $14,700,000 was received as a bonus, $0 was received in stock options, $9,239,962 was awarded as stock and $251,249 came from other types of compensation." So smile, take your package and good luck on finding another job. Oh yea, hold your head high because you did help the leaders of the org to own the company !!!
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I got laid off last year. I felt angry and frustrated just like you are now. When I got a grip on my own life, I realized that Pepsi business model is unsustainable, fewer and fewer people are drinking soda. To sustain, this company has no choice but to burn it’s own furniture and save the house as much as they can.
Market is good outside, find something and you will be happy. Keep you chin up and think that you are on your way to get normalcy back after few months when you land somewhere. Those who are stuck there will have a sword hanging over their head until 2023.. just horrible
Got my package today after 22 years of loyal service in IT. Google article "Connecticut’s Wolf in Sheep’s Clothing" Connecticut Gov. Ned Lamont recently named Indra Nooyi, the former Pepsi CEO, to his team of economic advisors to bring jobs to Connecticut.
The article points out that under Nooyi, she was instrumental in bringing in 2,000 foreign workers on H-1B visas that took American jobs and signed over $1 billion in outsourcing contracts.
The billions in cost savings that the company has generated over the years have not gone to develop new products, invest in new plants or equipment or hire a new employee. The billions saved was given to the stock holders in the form in share buy backs and dividends which benefits the senior leaders directly. In Feb, 2018 the company announced a 3 year $15 billion dollar share buyback plan or $5 billion per year. Globally the company employees approx. 260,000 which if the $5billion was divided equally among all employees would equal to approx. $19,000 for each employee.
PepsiCo's leadership is only interested in making themselves richer at the expense of their onetime loyal employees. And they can easily and legally do so by firing those who have decades worth of experience with the company, outsourcing entire functions to India, and then use to money saved to keep the stock price high and increase dividends. As of March, 2018 Nooyi had 1.45 million shares which pays her $9.76 million a year in dividends (at a lower tax rate) & made her one of the largest single individual shareholders of the company.
Take heart in knowing that our job was terminated so that Indra, Ramon and all the rest of the leadership can continue to get richer at your expense.