Pepsi cuts 8700 jobs after scoring record profits

[LJ_Reloaded]

http://www.alternet.org/newsandview...hes_8700_jobs_while_raking_in_record_profits/


Pepsi Slashes 8700 Jobs While Raking in Record Profits
Pepsi is about to put 8,700 of its worldwide employees out of work. This might make you think the company is in trouble.

Let’s have some fun with the numbers reported by Reuters in today’s New York Times.

Pepsi reports increases in:

Annual dividends: 4%
Expenditures on advertising: an additional $500 million
Expenditures on display racks: an additional $100 million
Fourth quarter profits: from $1.37 billion a year ago to $1.42 billion
Earnings per share: from 85 cents a year ago to 89 cents
Revenues: up 11% to $20.2 billion
Let’s get the logic straight here:

PepsiCo made $1.42 billion in profits last quarter.
The company’s revenues, profits, and returns to investors are increasing.
QED: it is adding 8,700 out-of-work people to an already depressed job economy.
Only Wall Street would view Pepsi’s bottom line as problematic and its CEO, Indra Nooyi, as in trouble:

Ms. Nooyi has come under pressure from Wall Street for a stagnant stock price and a lagging North American beverage business. She has been criticized for taking her eye off the core business of sodas to expand into healthier products, such as hummus and drinkable oatmeal.

When it comes to Wall Street, forget about jobs and health. Only one thing counts: meeting those quarterly growth targets.

Advocates for a healthier food system should not expect much help from food corporations.

They will only be able to help if forced to by public pressure and regulation.

 

[GracefullyYours]

http://ts3.mm.bing.net/images/thumbnail.aspx?q=1548925344766&id=a7bc86682c51cbc1d05884c0cd538254

 

[warrior queen]

Heh - reported yesterday here...
One of the major banks is going to lay off 10,000 employees, so they can save $90million.
They also put up interest rates on Friday, which will net them a cool $90million.
Hypocrisy, anyone?

 

[Sean Renaud]

Sounds like the company got more efficient.

The problem is this doesn't seem to unique. How is Coke doing?

 

[mercury14]

Pepsi also squirreled their 38% tax rate down to 26.5%. Then they made a record profit. And not only didn't create jobs, they eliminated 8.700...

If there was ever an illustration that supply-side economics is bullshit, this is it.


www.pepsico.com/PressRelease/PepsiCo-Reports-Fourth-Quarter-and-Full-Year-2011-Results02092012.html

 

[mercury14]

Sounds like the company got more efficient.

The problem is this doesn't seem to unique. How is Coke doing?

I'm sure they did get more efficient and that it was a smart business move. Nobody will disagree with that point. But it shows that giving corporations more money through tax breaks or subsidies has little to do with the number of jobs they create.

 

[Sean Renaud]

Oh I wasn't arguing that in the least. I think it's rather obvious when you look around that we're at some point in the not to distant future going to have a very real talk about how we either adjust distribution or how we create work for a millions if not billions of individuals. It only takes a looking around your neighborhood to realize that a selfcheckout lane at the Supermarket kills a cashier and a bag boy job or to figure out that Nooks and other e-readers are gonna destroy shit loads of jobs. Not just the cashier at Barnes n Noble but the truck driver who delivered the books, the guard at the warehouse, the technician at the publishing house. And that's just off the top of my head. It's gonna be interesting. With any luck we get out of this hole BEFORE it's time to have that talk.

 

[NeverEndingMe]

dip shit LT, pepsi is not in the business to employ people just to employ people.

you forget, pepsi isn't the welfare dept...you know, where your mother stands in line, after she's finished standing on the street corner turning tricks

 

[mercury14]

...the truck driver who delivered the books...

I had a difficult day at work. Being a guy who drives books around seems really nice right now...

 

[Sean Renaud]

Personally I'd rather be the security guard at the warehouse. Somehow I figure that the hardened criminals aren't going to try to get past a cardboard box for an advance copy of Breaking Dawn.

 

[richard_daily]

Personally I'd rather be the security guard at the warehouse. Somehow I figure that the hardened criminals aren't going to try to get past a cardboard box for an advance copy of Breaking Dawn.

Yeah, but what about that new sarah palin book!?!?! You'd have to watch your back for that one.



But seriously... I saw them for 90% off last time I went to the chain book store by my house.

 

[Sean Renaud]

That's because the book is such nexus of ignorance that it occasionally fucks with the time space continuity. It's actually against the law to have more than three of them touching lest you summon Nergal.

 

[LJ_Reloaded]

Oh I wasn't arguing that in the least. I think it's rather obvious when you look around that we're at some point in the not to distant future going to have a very real talk about how we either adjust distribution or how we create work for a millions if not billions of individuals. It only takes a looking around your neighborhood to realize that a selfcheckout lane at the Supermarket kills a cashier and a bag boy job or to figure out that Nooks and other e-readers are gonna destroy shit loads of jobs. Not just the cashier at Barnes n Noble but the truck driver who delivered the books, the guard at the warehouse, the technician at the publishing house. And that's just off the top of my head. It's gonna be interesting. With any luck we get out of this hole BEFORE it's time to have that talk.

Won't happen. The whole point is to get rid of billions of people.

This is about population control.

 

[Sean Renaud]

Won't happen. The whole point is to get rid of billions of people.

This is about population control.

Little bit over the top dontcha think?

Besides one should never assume malice when stupidity is a plausible reason.

 

[warrior queen]

Won't happen. The whole point is to get rid of billions of people.

This is about population control.

That is one hell of a leap!
Layoffs ----> population control.
Does not compute.

 

[Sean Renaud]

That is one hell of a leap!
Layoffs ----> population control.
Does not compute.

Record Profits---->lay offs
Ability to eat=job.

It computes just fine you just have to squint and tilt your yead about forty five degrees to the left to come to the conclusion that the rich are both sufficiently evil to do this intentionally and not accidently and that they are really so fed up with the rest of us that they would enact operation starve em out. Not to mention the part where that plan stops working when people start rioting.

 

[richard_daily]

Record Profits---->lay offs
Ability to eat=job.

It computes just fine you just have to squint and tilt your yead about forty five degrees to the left to come to the conclusion that the rich are both sufficiently evil to do this intentionally and not accidently and that they are really so fed up with the rest of us that they would enact operation starve em out. Not to mention the part where that plan stops working when people start rioting.

well, good thing that the patriot act has given impetus for funding so many anti personal weapons to municipal police departments.

 

[3rdparty]

Golden parachutes are expensive

 

[warrior queen]

Record Profits---->lay offs
Ability to eat=job.

It computes just fine you just have to squint and tilt your yead about forty five degrees to the left to come to the conclusion that the rich are both sufficiently evil to do this intentionally and not accidently and that they are really so fed up with the rest of us that they would enact operation starve em out. Not to mention the part where that plan stops working when people start rioting.

I'm not sure I could lean that far.
Either way

 

[Sean Renaud]

I didn't say I could lean far enough to believe it. Just far enough to see it. It's just I don't think that the rich are evil cartoon charachters. I think for the most part they are regular folk and like regular folk most of them can't see much farther than their own nose. Things are quite simply good for them or bad for them the rest of us be damned. It just so happens that after a certain point it becomes troublesome for the rest of us if they think and behave that way.

 

[3rdparty]

I didn't say I could lean far enough to believe it. Just far enough to see it. It's just I don't think that the rich are evil cartoon charachters. I think for the most part they are regular folk and like regular folk most of them can't see much farther than their own nose. Things are quite simply good for them or bad for them the rest of us be damned. It just so happens that after a certain point it becomes troublesome for the rest of us if they think and behave that way.

This is correct. If I was a boardmember of a fortune 500 company, and it was more profitable (ie via refined production methods) I would likely vote the same...assuming it increased my dividends.
An employee is just a social security number. Everyone is expendible, if it is so chosen

 

[John Doe]

I'm sure they did get more efficient and that it was a smart business move. Nobody will disagree with that point. But it shows that giving corporations more money through tax breaks or subsidies has little to do with the number of jobs they create.

It also has nothing to do with supply-side economics.

 

[KRCummings]

Heh - reported yesterday here...
One of the major banks is going to lay off 10,000 employees, so they can save $90million.
They also put up interest rates on Friday, which will net them a cool $90million.
Hypocrisy, anyone?

Do you know what hypocrisy means?

 

[CHNOPS]

Do you know what hypocrisy means?

I cannot abide people who are hypocritical, unless they're hot or give good blow jobs.

 

[KRCummings]

I cannot abide people who are hypocritical, unless they're hot or give good blow jobs.

There are only two things I can't stand in this world. People who are intolerant of other people's cultures... and the Dutch