Memo From Pepsi's HR Department That Cuts The 401(k) Plan

Memo From Pepsi's HR Department That Cuts The 401(k) Plan: Read The Memo From Pepsi's HR Department Cutting 401(k) Benefits
Jim Edwards | 13 hours ago | 4,157 | 18

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PepsiCo is axing its 401(k) contributions for some employees, a change that started in late January. The move comes as the company announced plans to lay off 8,700 workers and cut 100 of its 150 ad agencies in a bid to become more efficient.

Read the HR memo below.

At the same time, PepsiCo reduced the money it puts by for "pension and retiree medical plan contributions" by $1.4 billion, according to its most recent cashflow statement. The company told us: