PepsiCo Restructuring: Layoffs, Severance Pay and Automation
Slashdot is powered by your submissionsso send in your scoop. After I aged out of my engineering job, I knocked off a MD. All it takes is understanding of basic science.
I wish I just went directly into medicine. I'd be rich and it would have a lot easier than engineering. My colleague has an undergrad in art. The other in accounting! Should we tell him that there will be a time when we lower H1B visa restrictions and import docs who have been educated to greater levels and at a tiny fraction of the cost he has, so are far more inexpensive to employ?
That's why there is such a cry in the tech sector about "lack of interest" in tech related fields in the US by students It's just cheaper to get those workers from abroad.
Workers who have grown up and been educated in economies with much lower costs of living and. I am a professional chess and Go player. Fortunately for me I am safe from automation. The funny thing is they are. You'd better be in the absolute elite though, it's like all sports the top athletes bring in way more than then second-best and being th best is worth almost nothing.
The very first stat I looked up destroyed your argument so The vast majority earn nothing.
Here is a non political suggestion I wish I could see made reality. Make a serious part of education the understanding and interpretation of risk and probability.
It would also make the average Joe far harder to manipulate. I think part of the problem at least for my generation growing up in the 80's and 90's was there was a big push on this motivational stuff of "Don't let anybody tell you you can't make it. Even if they work hard for it.
Most of those things a. When I was in elementary school, I was repeatedly told that I could do anything I wanted because I was highly intelligent. Then I saw assorted career options close for reasons not related to intelligence. I've been tempted to write a book "Everything that held me back I learned in kindergarten". Intelligence is only a part of the recipe for success.
You also need discipline, motivation, people skills, a good balance of executive functions eg. When you figure out how to do that, I'd like to point you towards the morons buying lottery tickets :. The issue for me is using tax dollars or issuing municipal bonds to subsidize profit-making sports teams.For You.
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Severance Pay Package Agreement Lawyer – Severance Review and Negotiation - Pepsi Co
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Negotiate your pay with confidence. Enter your job title:. At PepsiCo Inc, they provide many retirement savings plans and amenities to promote employee well-being. Many companies in the United States, like PepsiCo Inc, sponsor health insurance, through which a sizable proportion of each employee's health insurance premium is covered by their employer.
These contributions are tax deductible for employers and tax-free for workers. PepsiCo Inc offers health, dental, and vision insurance. PepsiCo Inc also offers long-term disability insurance, short-term disability insurance for accidents or illness, group life insurance, and death benefits, which cover certain causes of death.
Employer-provided pension plans help to guarantee a dependable source of money later in life. PepsiCo Inc provides defined benefit pension plans and defined contribution pension plans.
Employees at companies with defined benefit retirement plans receive a fixed sum upon retirement.Our Award Winning New York Severance Agreement Lawyer has counseled employees and former employees of Pepsico including its affiliates, subsidiaries or related companies i. Pepsico, which has its headquarters in Purchase, Westchester County, is one of the largest food and beverage producers in the world and reportedly has more thanemployees.
In recent years, the Company has instituted some layoffs. If you have been affected by a layoff or a job separation for other reasons e. Although companies in general are not required to provide severance pay, many do primarily in order to obtain a general release of claims.
If you have been presented with a severance agreement, it is important to have it reviewed by an attorney before you decide whether to execute it or not. We have discussed severance issues before and some prior informational posts can be found here and here. Some issues to consider: 1. Do you have a legal claim that is greater than the severance offered? One set of the exceptions is that the employee may not be terminated for unlawful reasons such as employment discrimination, sexual harassment, or retaliation for making certain complaints.
For example, if you make a protected complaint of discrimination or other certain unlawful actions and you are shortly thereafter terminated, you may have a claim as a whistleblower. Employment claims are very fact specific and require individualized analysis by a lawyer. The analysis should include whether you have a strong or weak claim, what your options are and what possible outcomes may be.
If you decide to pursue a claim, you would be rejecting the severance offer so it is important to do your due diligence before hand. We have helped clients increase their severance packages and depending on your circumstances may be able to help you as well.
Is there a non-compete provision that limits your ability to find a new job? This is an increasing important issue for workers. Many employers are requiring employees to sign non-compete and confidentiality agreements upon hire.
If you have a non-compete agreement and the severance agreement is asking you to affirm its obligations, this is a critical issue to consider and its potential impact. You could be out of a job and precluded for working for a competitor. There are certain situations where you can argue that the non-compete should not apply but those are very fact specific.
Did you employer breach its obligations to you? Did your employer terminate you without cause? Is the non-compete agreement drafted within the parameters allowed by the law? There are some questions to consider.
These are only two issues and there are many more to consider e. If you have any questions about your severance agreement or job at Pepsico, feel free to call our NY Severance Agreement Attorney at for a confidential consultation. We may be able to help improve your severance package. Disclaimer: Thank you for visiting our Blog. This blog provides general information and thoughts about various employment law issues primarily in the New York Tri-State area and occasionally in other areas.
You are welcome to read the posts.Posted by Abigale Lormen Mar 3, Business 0. PepsiCo is starting its restructuring plan that would take approximately four years with severance pay that is anticipated to cost millions of dollars. According to some PepsiCo workers who were part of the layoffs, employees of the company in offices such as Plano, Texas and New York were given notice on them being laid off soon.
There are still a few employees who remain in their offices to train recruits until the end of April. The workers said that the number of laid-off PepsiCo teams or employees is unclear due to the discreteness of the board.
Additionally, about fifteen percent of expenses were linked to factory closures and other matters. Abigale is a Masters in Business Administration by education. After completing her post-graduation, Abigale jumped the journalism bandwagon as a freelance journalist. Soon after that she landed a job of reporter and has been climbing the news industry ladder ever since to reach the post of editor at Market Tactic.
Pepsico Severance Agreement Lawyer – Separation Package Review and Negotiation Issues
About The Author. Related Posts. Saving Uber in Chile Oct 25, Tech.Pepsi Co: Pepsi, like Coca-Cola, is a soft drink company. Pepsi headquarters are currently located in Purchase, New York. There have been approximatelyworkers employed for Pepsi over the world. Pepsi has an annual net revenue of Our Employment Law Attorneys can help guide you if you are laid off or having problems at work and fear your employment may be terminated. This may be your first experience with a severance agreement.
It's not ours. About Our Law Firm: Our New York, New Jersey and Connecticut Severance Pay Package Agreement Lawyers have advised Fortune companies on severance packages, plant closings and layoffs and, are now using this valuable experience, to successfully represent current and former employees to obtain greater compensation payable in a lump sum or weeklya longer employment period and delayed termination date, longer periods of health insurance coverage and other valuable benefits in severance packages.
If you have been presented with a Severance Pay Agreement, don't sign it until you learn your rights and maximize your compensation and benefits - call now to speak with one of our New York City Severance greement Attorneys at or send us an email. Our New York City Severance Agreement Attorneys will answer all your questions regarding the terms of severance, explain the terms of the Severance Agreement, inform you of your legal rights, and negotiate your severance agreement in order to maximize your compensation, benefits and perks.
It is very important for employees to review their severance packages with an experienced employment lawyer so that they understand and fully appreciate the benefits and obligations imposed in the Severance Agreement. As severance agreements may bar employees from bringing future lawsuits against their employers for claims such as employment discrimination, sexual harassment and payments owed such as bonuses, it is crucial to review the severance agreement and the circumstances of your termination to determine if any claims exist prior to signing.
Learn your rights before you release and waive all your claims against your former employer. A paragraph by paragraph legal review of your severance agreement explaining the specific legal issues, practical considerations and consequences. Our Employment Law Attorneys have reviewed and analyzed thousands of severance agreements and that experience will be protecting you.
Analysis of the factual and legal issues surrounding the termination of your employment including the viability and strength of any possible employment law claims that you may have. The availability and proper cost of COBRA health insurance coverage and your eligibility for state unemployment insurance benefits. Analysis regarding the impact of any restrictive covenants non-competition and non-solicitation agreements that you may be bound by and other issues affecting your future employment; and.
If we are retained, our Severance Lawyers will negotiate your severance package to obtain a great severance payment for you. Click below for more of our informative blog articles. I was devastated when I got fired.
I did not know what to do but was lucky to find your law firm. Sanchala explained my severance agreement to me in plain english and was able to get my family more money.PepsiCo has kicked off a round of layoffs as it begins a four-year restructuring plan expected to cost hundreds of millions of dollars in severance pay. This week, PepsiCo employees in offices including Plano, Texas, and the company's headquarters in Purchase, New York, were alerted that they were being laid off, according to two people who were directly affected by the layoffs.
These two workers were granted anonymity to speak frankly without risking professional ramifications. At least some of the workers who were alerted about layoffs will continue to work at PepsiCo until late April as they train their replacements, the two workers told Business Insider. Because of the secrecy surrounding the layoffs, these workers said it was unclear how many teams or people had been affected.
PepsiCo declined to comment on the layoffs. By PepsiCo's estimates, the company's layoffs are expected to be a multimillion-dollar project in Efficiency and restructuring were major themes in PepsiCo's quarterly earnings call with investors on Friday.
Being leaner and more agile seems to be linked to cutting jobs, with chief financial officer Hugh Johnston confirming to CNBC that the company planned to lay off workers in positions that can be automated. Laguarta said on Friday that PepsiCo was "relentlessly automating and merging the best of our optimized business models with the best new thinking and technologies. Last week, PepsiCo announced it would reorganize its beverage business into four US regional divisions and a single Canadian division, according to an internal memo obtained by trade publication Beverage Digest.
According to Beverage Digest, the memo said the restructuring would "simplify the way we work, remove red tape and push decision-making and resources into the market.
If you were affected by the PepsiCo layoffs and have a story to share, contact ktaylor businessinsider. Account icon An icon in the shape of a person's head and shoulders.
It often indicates a user profile. Login Subscribe. My Account. World globe An icon of the world globe, indicating different international options. BI Prime. Kate Taylor. This story is available exclusively on Business Insider Prime. Join BI Prime and start reading now. PepsiCo has kicked off a round of layoffs affecting employees in several offices, two people who were laid off by the company told Business Insider. PepsiCo also recently announced plans to restructure the organization and "relentlessly" invest in automation.Severance Plan for Executive Employees.
For purposes of the Plan only, the following terms shall have the following meanings:. Any other event, circumstance, offer or proposal occurs or is made, which is intended to effect a change in the control of the Company, and which results in the occurrence of one or more of the events set forth in subsections a. Participants shall be those executives of the Company or of an Affiliate who satisfy the criteria established from time to time by the Committee. The current criteria are set forth on Schedule B hereto.
Lump Sum Payment. Bonus Payment. Deferred Compensation Plan Payment. Continued Health and Welfare Benefits. For two years following Termination, the Company or an Affiliate shall provide such Participant with. The Participant shall pay any employee contribution required for active employees as in effect from time to time at and after the Termination Date.
Payment of Earned but Unpaid Amounts. After the Termination Date, the Company shall promptly pay the Participant earned but unpaid compensation in accordance with the applicable terms of the plans or programs governing such compensation. Such other payment shall also be offset to the extent that the availability of an exception from A would require this result, provided that doing so does not result in non-compliance with section A.
Each Gross-Up Payment required to be made by the Company to a Participant hereunder shall be paid no later than the end of the calendar year next following the calendar year in which the Participant remits the corresponding taxes to the Internal Revenue Service.
A Participant shall not be required to mitigate the amount of any payment provided for under this Plan by seeking other employment or otherwise, and compensation earned from such employment or otherwise shall not reduce the amounts payable under this Plan.
This Plan is unfunded and benefits hereunder shall be paid by the Company from its general assets. The Company will, to the extent required by law, withhold applicable federal, state and local income and other taxes from any payments due to the Participant hereunder.
This Plan shall be governed by and construed in accordance with the laws of North Carolina without giving effect to the principles of choice of law thereof. Except as otherwise provided herein, this Plan shall be binding upon and shall inure to the benefit of and be enforceable by the Company and the Participant and their respective heirs, legal representatives, successors and assigns. If the Company shall be merged into or consolidated with another entity, the provisions of this Plan shall be binding upon and inure to the benefit of the entity surviving such merger or resulting from such consolidation.
Nothing contained in this Plan, nor any decision as to the eligibility for severance pay or the determination of the amount of any benefits hereunder, shall be construed to confer upon any Participant, or any other individual, any right to be retained in the employ of the Company or to be rehired, and the right and power of the Company to dismiss or discharge any Participant or any other individual for any reason is specifically reserved.
The benefits payable under this Plan shall not be subject to assignment or alienation by the Participant or his or her beneficiaries, nor shall the benefits be subject to attachment. Any attempt to assign, alienate, transfer, pledge, encumber, commute or anticipate Plan benefits shall be void; no such interest shall be in any manner subject to levy, attachment or other legal process to enforce payment of any claim against a Participant, except to the extent required by law.
In the event of any provision of this Plan is held to be illegal or invalid, the remaining provisions of this Plan shall not be affected thereby.