Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, at least the jobs aren't being outsourced - the ax is being applied by an 'in-sourced' Indian CEO.
PepsiCo Inc. (PEP) plans to cut 8,700 jobs and boost marketing spending for its brands by as much as $600 million as Chief Executive Officer Indra Nooyi works to speed up profit growth at the world’s largest snack-food maker.
The job cuts, which represent about 3 percent of PepsiCo’s global workforce, and other measures may save about $1.5 billion by 2014, the Purchase, New York-based company said today in a statement.
“Running a large company is like doing a car race,” Nooyi, 56, said today in an interview on Bloomberg Television. “Occasionally, you have to stop and refuel yourself in the pit stop, and that is what we’re doing in 2012.”
Yeah I guess it's preferable to have an inefficient labor system where folks are frozen in their jobs and hiring costs are prohibitive. Oh wait such a place exist, Greece.
Yeah I guess it's preferable to have an inefficient labor system where folks are frozen in their jobs and hiring costs are prohibitive. Oh wait such a place exist, Greece.
So you saying that the prior American CEOs and senior management at Pepsi were THAT bad? You suggest that the above scenario applies to the current state of American capitalism? Perhaps the rate of outsourcing equates to upper management thinking that American workers are useless and unproductive parasites. Maybe we should outsource MORE of the CEOs, like Pepsi did, and let them get rid of what was not already outsourced.
So you saying that the prior American CEOs and senior management at Pepsi were THAT bad? You suggest that the above scenario applies to the current state of American capitalism? Perhaps the rate of outsourcing equates to upper management thinking that American workers are useless and unproductive parasites. Maybe we should outsource MORE of the CEOs, like Pepsi did, and let them get rid of what was not already outsourced.
Um, she has been in the US for well over 30 years and has been Pepsi's CEO for 11 years.
Also, keep in mind that any utterance of a CEO to a biz publication like bloomberg is going to be VERY carefully crafted propaganda....usually aimed at investors.
Pepsi had a nice stock run-up to 2007 but since the 2008 market collapse has rebounded little and has been flat with a meagre dividend.
From what I can see it doesn't even say those will be US job cuts. FWIW they will be increasing marketing spending so that will likely help jobs in that sector. <shrug>
A reduction in workforce in a corporaton of that size and scope isn't surprising. Welch at GE was accustomed to letting go the bottom 5% of perfomers, yearly, when he headed that corporation. We don't know if these jobs are going to be phased out due to attrition, or eliminated entirely, now. But, corporations see their first responsibility as being to shareholders. And if any of us invests in mutual funds as part of our 401(k) plans we have a stake in Pepsi, I suspect. I don't know, also, if these jobs being phased out at Pepsi are being done worldwide, or just in the USA. I suspect worldwide. Which would mean not too significant impact on the USA economy. Job force, that is. These types of corporate decisions are why there hasn't been enormous job growth/creation in recent years. I'm surprised someone didn't start a discussion about this, blaming President Obama for the job loss. Stranger things have happened.
Well, at least the jobs aren't being outsourced - the ax is being applied by an 'in-sourced' Indian CEO.
PepsiCo Inc. (PEP) plans to cut 8,700 jobs and boost marketing spending for its brands by as much as $600 million as Chief Executive Officer Indra Nooyi works to speed up profit growth at the world’s largest snack-food maker.
The job cuts, which represent about 3 percent of PepsiCo’s global workforce, and other measures may save about $1.5 billion by 2014, the Purchase, New York-based company said today in a statement.
“Running a large company is like doing a car race,” Nooyi, 56, said today in an interview on Bloomberg Television. “Occasionally, you have to stop and refuel yourself in the pit stop, and that is what we’re doing in 2012.”
Refueling yourself in the pit stop by drinking the life force out of 8700 people seems a little gluttonous..maybe the CEO should have not taken their yearly bonus and saved those jobs..?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
