The economy is doing great...the economy is doing great....the economy is doing great...the economy is doing great...the economy is doing great...the economy is doing great...the economy is doing great...the economy is doing great...the economy is doing great...
That's what the utterly manipulated stock market is supposed to get you to believe. Meanwhile, in the real world where people actually live and work--or recently increasingly don't work--the mass layoff stories form a different narrative entirely. Everyone knows that bovine America loves its snack foods, so if the economy is going so great, how do you reconcile that with this story from Bloomberg?
PepsiCo Inc. plans to cut 8,700 jobs and boost marketing spending for its brands by as much as $600 million as Chief Executive Officer Indra Nooyi works to turn around the world’s largest snack-food maker.Yep--and the reason why profits will rise next year is there will be 8,700 fewer workerbee parasites dampening the value of the shares in the portfolio of CEO Indra Nooyi. Ain't crony capitalism grand?
The job cuts, which represent about 3 percent of PepsiCo’s global workforce, and other measures may save about $1.5 billion by 2014, the Purchase, New York-based company said today in a statement.
Nooyi is working to boost U.S. beverage sales and regain market share from Coca-Cola Co., the world’s largest soft-drink maker. Profit this year will decline about 5 percent on a constant-currency basis and then increase at a high single-digit percentage rate starting in 2013, PepsiCo said.
Bonus: Dedicated to Pepsi CEO Indra Nooyi - "You're a rich girl...and you've gone too far. Cause you know it don't matter anyway"
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