It finally happened, Everybody that was on furlough got let go to day. Maybe Xerox is going to use that extra money for our year end bonus
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If you are still employed at Xerox expect to be screwed over.
Yeppers, furloughed 7 months, then layed off 12/1. Im in Texas they hacked 270. Movin on....
I was let go 15 days after the severance change. 25 weeks of pay down to 12. AND to add salt to the wound your medical benefits terminate immediately. Under old plan you had medical benefirs. Knew it was coming but after 20+ years...several years with no pay increases...hours of unpaid overtime (salaried) it s—ed. Two years later couldn't be happier. Working for a company that truly cares and am compensated better than I was. Such a shame those c-levels only care about themselves and their own well-being.
Yep, the big severance change took place around August 1st, 2018, and it went into effect with zero communication. I had a friend who was down in Norwalk the week before meeting with some of the kind folks from Icahn Enterprises and had the misfortune of telling them he could not do what they told him to do because Xerox’s existing contracts prohibited such. One of the issues included a sales component, so he was reviewing certain HR policies, including severance. The severance plan had not been changed as of that Friday. A few days later, he found out about the change when HR called him to tell him he was terminated. His boss who was on the phone did not say a word then or after (I think he’s gone now, too). After a decade at Xerox, they did not have the nerve to tell it to his face just so they could save a few more bucks for Icahn’s pocket. HR also had the stones told him he had to drive over to Webster to return his laptop and badge. He laughed, told them to send him a pre-paid box and then went on a long vacation with his family. He got a job just before the Holidays with a ‘normal’ company (his words) and is happy.
The change was never communicated. You had to be watching the policy regularly for a change-who does that? It’s also taxed at a higher level than your withholding.
You also have to sign an agreement saying Xerox didn’t do anything wrong and you won’t sue, or you don’t get the severance.
The first VRIF packages, around ‘83, were one month severance for every year of service, no cap.
The changes were made about 2 years ago. Week for a year capped at 12 for managers. I think non exempt is capped at 8 weeks. It’s a lump sum though, not continuance, so benefits end quickly.
The changes to the IRIF severance package happened in June or July of 2018. I was laid off in August of 2018, in Rochester the first group to be affected by the change.
Just got IRIFd today 12/1/2020
I have never seen an irif come before a vrif in my 22 yrs at xerox. When Carl Icahn took over the lavish severance packages were drastically reduced. If you are waiting on a package to come your way that’s not p–p in a bag you’ll be waiting a very very long time.
: @cas+18csLDZH your 401k is yours. Xerox cannot by law take it. The pension is a much different story. I took mine the day I walked out the door and it could not have been an easier process. Highly recommend the Kentucky call center who is responsible for that.
Concur that the changes were made around 2017. There was a VRIF in fall of 2017 and my package, that I didn't take, included 1 week per year with a cap of 52 I think, though I wasn't quite up that high! That was the last VRIF I've seen, and all the IRIFs since then have been capped at 12 weeks severance, at least for my job classification.
If you look in the HR site there is a document that describes this in detail, I forgot exactly where it is and I'm too lazy to look it up right now.
The changes about the number of weeks of severance came the same time Johnnie Vas---ne took over...late 2017 If you only worked for 5 years or less the severance package drops down to 3 weeks or less...Another major change (Jan 1 2019) (compliments of JohnnieV) was if you were to go on full disability after Jan 1 2019 you would be terminated from the company...you would still get your long term money but you would no longer be with the company. So sad all these negative changes and then they wonder why everyone is not happy...and the list goes on...
Everyone needs to be clear on one thing- severance is paid in exchange for not filing a claim against Xerox, even if you have a legitimate one. You are basically waiving all your rights to a monetary award even if a court rules in your favor.
I just found a document on google Xerox severance pay in 2016 you would receive 1 week per year maximum of 52 weeks. I was not aware of the new changes in 2020. Does anyone know when the changes were made?
I am surprised about the changes to severance pay especially after working for Xerox for 27+ years.
My understanding was that I would get one week per year and now I am only being offered 8 weeks of severance.
VRIF? Highly unlikely...More IRIF's-possibly
You need to specify what your job is or what division you work for...for regular direct techs 11 years or more equal 8 weeks severance...I believe managers get 12
IRIF first, then comes VRIF ... what can one expect for severance?
Any idea what the severance package is???
Take your 401K and pension with you ASAP before they don't give you the choice. Life might look so great now but there is much better waiting for you.
This was Xerox and XBS techs 200+ were let go
I'm so sorry this happened to anyone that was affected. It won't be like this forever. For what it's worth, the team-building qualities and training I got from working at Xerox probably helped get me my new job. The .1% running the place into the ground and sending jobs overseas in order to sweep up the profits with no long term vision are going to burn in h*ll. But the people that have always made Xerox a great company, are going to continue to be great no matter where they end up. Hang in there.
Everyone across the company or is this everyone you know in your dept?
It was great news for me!
If you still needed a few more years to make your retirement target/medicare goals then maybe not so good but anything away from this declining company is a win-win in my opinion.
Good luck to all!!!