PepsiCo plans to devote hundreds of millions of dollars to severance pay as they kick off a round of layoffs and initiate their hefty restructuring plan. According to Business Insider , Pepsi filed with the Securities Exchange Commission (SEC) that they expect to incur $2.5 billion in pretax restructuring costs through 2023. 70% of charges relate to severance and other employee costs and 15% cover factory closings. They predict the restructuring will allow them to save $1 billion annually through 2023 by improving efficiency.
“Our second set of priorities … involves becoming more capable, leaner, more agile and less bureaucratic,” […]