PepsiCo giveth, and taketh away
On an earnings call Tuesday, PepsiCo CEO Indra Nooyi cited the recent federal tax cut as allowing the food and beverage giant to pay bonuses of up to $1,000 for an unspecified number of workers in the U.S. What she failed to mention is that the company was also laying people off. The job cuts were later confirmed by the company, which stated that it is laying off "less than 1% of our U.S. workforce focused on corporate positions" as part of a "continuation of the 5-year, $5 billion productivity program we publicly announced in 2014." As of Dec. 30, PepsiCo employed 263,000 people worldwide, including 113,000 people in the U.S., according to financial filings.
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