Welcome to Obamaville: Pepsi looking to layoff 4,000 workers
Yesterday it was Boeing announcing big layoffs (after the election). Let us not forget that Pepsi may be on the verge of laying off 4,000 workers.
In an effort to boost its bottom line, PepsiCo (PEP) management is reportedly contemplating laying off about 4,000 workers and putting a stop to its 401(k) match.
By eliminating its relatively generous 401(k) match, the food and beverage company would save $75 million immediately, the paper reported. PepsiCo could cut the match for employees who are senior enough to be eligible for the pension.