Forget ADP Data -- Big Corporations Still Slashing Workers | InvestorPlace: Wall Street seemed upbeat today thanks to positive jobs numbers in a private-sector payroll report from ADP. Specifically, jobs increased 325,000 in December, led by the service sector and small businesses. Additionally, November’s employment numbers were revised slightly higher.
But lest you think everything is coming up roses, keep in mind that many big corporations in America still are reluctant to hire. In fact, they are continuing to cut back, based on recent headlines.
For starters, PepsiCo (NYSE:PEP) is considering cutting about 4,000 jobs, according to a New York Post report. Citing inside sources, the paper also said Pepsi might be reducing pension contributions to boost its earnings, too.
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