I used to be proud to tell people where I worked. It felt like a company that actually cared about its people. Now it's unrecognizable.
13 replies (most recent on top)
@12b Sickening!
@aa 300 mil $ rich...
This post should be hung in the hall of every corporate office. THIS. Unequivocally.
One question for R&D why can't you buffoons make a CSD that grows year over year?
There was a time when a year’s salary was more than the average cost of a home, and that kind of pay built lasting loyalty. That was the reality for Route Salesmen. It’s hard to imagine working through 500+ SKUs for a salary that barely puts food on the table. Even Roman slaves could earn their freedom, but with the pay Pepsi offers below the executive level, there’s no way to truly get ahead.
Pepsi can su-k it
@be The solution lies with new talent at the top. RL and AK must go immediately. Next fire all Indian offshoring and contractors.
Justify each and every project and spending.
Spin off beverage and lays.
It can be done. There is no more trust with leadership who have failed.
@aa that woman... A lying Indian who sold the company to her country folks. She left behind RL who continued her footsteps enriching offshore.
Ask yourself that witch has personal wealth of 300$mil. How....
Filling in the dots of indianization and Sap.
@be This is an astute and accurate diagnosis across the board.
If I were appointed CEO which I have zero desire for or prospect of ever happening, I’d do the following:
First hour: fire Athina. Acknowledge why instead of a flowery thank you so that folks understand what I’m doing away with.
First three hours: all contractors are gone. I don’t give a sh-t what impact it has, we’re already fu---d as a company so we can deal with a cleanup.
First week: task M&A team with divesting 50%, yes 50% of our portfolio. Sell the garbage and literally stash the cash in the S&P for now, it’ll outperform anything with put our hands on by legions.
First month: do literally everything Elliot suggested in the letter. Say what you want, it’s brilliant. No I don’t work there, I’m in S&T. Unlike corporate PepsiCo employees who generally can’t read financial statements if their wellbeing depended on it, a hedge fund is incentivized to focus 💯 on net returns and growing value.
First quarter: stop the Indianization.
Don’t get me wrong: India is an incredible country with an abundance of talent. I’m not saving face, and I am myself Bengali. No American company should have one singular outside country so overwhelmingly present in its ranks however, whether we’re talking about India or Slovakia or Andorra or Mars. American ways of working are objectively superior when considering value creation, if you disagree go look at the markets across nearly any back tested time frame in the last hundred years. Intense hierarchical bullsh-t and bureaucracy coupled with a fear of risk taking and failure have always put ex US markets at a disadvantage. Injecting this into a US company has been a disaster. I believe we should poach top talent from the whole world, including India, when superior to available options onshore. Offshoring to save cost however has fu---d us, better to cut headcount. On another note, we have many people who barely speak English. English is the language of global business and of the company’s home country. If I moved to Russia I wouldn’t expect a top tier job when my Russian su-ks.
And I miss the old Kanye, straight from the gold Kanye, chop up the stove Kanye
(Stupid joke i know)
The past was much better days for both though
Unfortunately We Are Too Big to Turn around quick thanks to RL (who should be gone soon) There are many reasons why. Portfolio is too big, in every beverage and food segment there are many leaner operationally and more efficient overall brands taking market share from us.
With this our scale is massive, let’s start with 300k employees salaries and benefits, the gargantuan number of contractors S&T allocates $$$ to. Next the amount of goods we buy $$, with how much product is produced in X number of physical sites that we pay maintenance and insurance on. On top of owning all of our North American trucking fleet and paying insurance and maintenance on them as well.
From a sales side, WAY too high variety of products to be accountable for and unrealistic demands to make their lives he-l- from my understanding and conversations with connects. cannot speak more to it as I am not versed in this field.
From a corporate side, toxic bureaucracy and nonstop blockers that prevent progress. AK needs to be gone as well. Nothing transformative about her.
We still have great talent who are great people, but we do not let them operate how they should.
I wish this could turn around. I’m 19 years in and the past 3 years have truly been rough. I need a break and a fresh start.
Offshoring and layoffs coming Soon To Account for The earnings miss and our Stock as Of Recent
@ak when the consumer sees PepsiCo on a package, their reaction is the same as seeing Marlboro Lights on a package, it's immediately associated with health problems and a shortened lifespan
What’s worse is public awareness now. People used to be impressed with the name. Now it’s associated with diabetes and making people fat and unhealthy.
@OP you need to start drinking coke!
You can thank Indra Nooyi for that. She got rich and sold the company to India. It's pretty much ran by consultants who run it like a consultant company. It's doomed.