PepsiCo is in the middle of one of the most under-the-radar activist battles of 2025.
Elliott Management has taken a $4 billion stake. Analysts are calling the stock a “Hold.” And CEO Ramon Laguarta is trying to pitch a story of “productivity” and “innovation” as the turnaround levers.
But here’s the problem with that… PEP 0.00%↑ workforce signals tell a different story than the analyst decks. I have been going over this for days now.
White-collar jobs are disappearing in the U.S., quietly replaced with offshore headcount. Leadership exits are being tucked into 8-K filings to minimize scrutiny. Attrition is doing the dirty work of layoffs, with no WARN notices to trigger headlines.
Elliott isn’t just buying a consumer staples brand. They’re buying into a stealth restructuring machine. (like they do)
And if you know how to read the workforce data, you can trade ahead of what’s coming.
👉 Full breakdown, workforce math, and price targets below.