PepsiCo announced that they must radically restructure if they want to stay competitive.  This comes after Pepsi fell to third place, after Diet Coke.

Pepsi will lay off 8,700 employees around the world, and then spend big bucks on advertising to get you to buy more Pepsi products. Pepsi officials declined to say exactly how many U.S. employees would lose their jobs, but did say it should not be more than 3% of their U.S. operations.

Pepsi already laid off about 3,300 people from 2008 to 2009.

But here’s the thing, the former executive who caused Pepsi’s fall, is getting a $2 million bouns!  Massimo d’Amore ran Pepsi’s Global Beverages Group until September 2011.  He ordered changes in how Pepsi was marketed.  Those changes actually hurt sales.

So, d’Amore is let go, but walks away with $3.4 million in retirement and stocks, plus $2 million in severance, while 8,700 Pepsi employees will probably get nothin’ when they get axed!  And it’s not their fault Pepsi lost sales, it’s d’Amore’s fault!  Just another argument for employees to be the owners of their own business!