Pepsi Announces Layoffs on the Same Day That it Promises $1,000 Bonuses

By Sahid Fawaz

Another company has announced that it will give bonuses while laying off employees.

U.S. News & World Report reports:

“PepsiCo reported flat revenue for the last few months of 2017, and said that it will cut some jobs while giving others bonuses of up to $1,000.

The layoffs, which will affect its corporate employees, amounts to less than 1 percent of its more than 110,000 employees, the company said Tuesday.

Bonuses go to those who make PepsiCo’s snacks and drinks, and those who deliver them.

Like other major corporations this year, PepsiCo is citing a major overhaul of the nation’s tax code for the bonuses. It did not say how many workers would receive them, or what the criteria is for the size of the bonus.

The company will also use its tax savings to bump its annual dividend by 15 percent and increase its share buyback program to $15 billion, from $12 billion.”

For the rest of the story, visit U.S. News & World Report.

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