Any chance severance gets cut by the time the next round hits? Has it happened before?
11 replies (most recent on top)
If you get severanced out during the re org In December do you get your bonus pro rated?
Can you imagine suffering for a year and then not getting bonuses?
@f2 HR trying to cover their dealings? Don’t be naive.. PepsiCo will not go into litigation with you, and what they offer you first is never Take This or You Get Nothing - the are prepared to pay out more to avoid bad press , litigation and to settle restructure as soon as possible. It does not matter if it is US, UK, Spain, Poland , Mexico or anywhere else - the global approach is the same… first offer a bait if they catch it were good. If they don’t we will have to pay out more!
@ch “It’s very rare for good people to be let go.”
Not true. Thousands of good and exemplary USA IT and finance people were permanently replaced.
“Knowing the restructuring is coming, they often don’t backfill positions, which is happening now.”
Or it’s because the position is now moved to another country.
@fa is that 2 weeks for every year past 20 years? Or if you have 21 years service you get 42 weeks severance?
1 week/ yr. of service
2 weeks/ yrs after 20 or more
@bf Good luck with THAT
If you are offered 2wks severance for every year of service (among other VRP elements ) and refuse it because you believe dealing with PepsiCo is like haggling with a car dealer - you will miss out on an opportunity of a lifetime…
good luck negotiating with a SPA box
@cj thas a HR Lie! Pepsico is always prepared to pay out more and negotiate to avoid litigation. Dont be naive folks! HR won’t be your friend in this process.
I have never heard of an increase with a VRP or severance package during negotiations? Process is pretty simple and calculated before you even step in the room.
If jobs are eliminated, those employees will get severance packages. Typically it’s two weeks for every year of service up to one year.
I have been with the company for almost 30 years and I have seen a lot of re-organizations. It’s very rare for good people to be let go. Knowing the restructuring is coming, they often don’t backfill positions, which is happening now. That way they can move people into those open roles instead of letting them go. Sometimes people do change jobs and technically go down a level,in the company, but they are usually “red circled”, which means their salary remains intact.
Most people who take the severance package are close to retirement and it is a true benefit for them. Other people take the severance package and still get another job, so they have double income for a short amount of time.
Never accept what they offer you first. They are always prepared to pay even twice as much, and if there is risk you may end up going to court then they can even pay extra full year salary to avoid litigation. Don't be naive… it is not an honest, fair company and you should not be either
( Especially in S&T)
If there's a way to save money for them over you, you bet they'll look at cutting severance payout.