Thread regarding Conduent layoffs

Well, it finally happened. Promises to accelerate the race to the bottom that began when Mellon started formally taking control of Buck in the early 2000s. Since then, the company has been run by management that does not get the business of HR consulting. Promises to remain the same with the hedge fund.

Hi

This is going to be top one IT company in the world, conduent started overcoming disaster, so we will loose some people during this period but they will come back .

I hate this company

Ashok was clearly someone that had his own agenda and it wasn’t about caring for employees with tenure he knew nothing about consulting and the loyal buck clients

that were retained for years due to great consultants but Ashok should be turned loose to all those people he let go and destroyed so they can tar and feather him

Crickets?

Conduent will report its fourth-quarter and full-year 2017 financial results on Wednesday, February 21, 2018. CEO Ashok Vemuri and Chief Financial Officer Brian Walsh will present the results to analysts and investors during a conference call and webcast at 10:00 a.m. EST. The call will be available by live audio webcast at: https://investor.conduent.com/calendar-of-events

If a buyer doesn’t enter the scene, fast, the 100+ year history of Buck Consultants will come to a sad end. Employees are beyond tired of being treated like garbage. Never think morale can’t get worse, because Ashok never fails to deliver in that area. Employees are going to continue leaving and taking their clients with them. The value of the business is dwindling every day.

In the coming weeks, when managers are forced to deliver more bad news about raises and bonuses, or the lack thereof, it should be the last straw for many. After another year of being asked to do more with less, FOR LESS, employees deserve better than being told to hang in there.

It’s incomprehensible that hard-working employees are having their review ratings decreased in order to keep their salary below market value and payroll favorable enough to reward the executive team that do nothing but lie. Awarding pay increases on a bell curve is NOT “pay for performance”.

If another buyer doesn’t enter the scene, and fast, what was once Buck Consultants will cease to exist. Employees have had enough of being treated terribly. Most thought morale couldn’t get any worse! But Ashok never fails to deliver in that regard. More non-action by “leadership” is going to continue driving talent out the door and they’re going to take their clients with them. Competitors WILL continue to hire away talent and poach clients until there’s nothing left.

In the coming weeks, as managers deliver more bad news that employees are going to be screwed yet again with poor raises and bonuses, it should be the last straw for most. After another year of having to do more with less, FOR LESS, shouldn’t be acceptable.

HRS consulting sold is not correct, these are only rumors

Any updates on this? Anxious to hear what is going to happen!

Why would conduent care what a handful of fools think about this so-called transaction? who's running this? if anything, the roadblock must be with the potential buyer.

Since when has Ashok cared or valued the employees? Whoops, I mean since when has he cared or valued what the employees think? Shouldn’t matter if a handful of fools in consulting want to stay with conduent

I second it. There are a handful of fools within consulting wing. These fools were not hired by the consulting group but are Intruders or wastes from other wings..

there are people in consulting still believes that they need to be part of conduent

What do you mean a split within Consulting? I would think the consulting employees are smarter enough to band together to get away from this piece of $hit company

There seems to be Split with in Consulting wing which causing delay in announcement.

Today’s kickoff to the leadership conference all but confirmed consulting is gone. More talk of divestitures and no mention of consulting work when discussing core businesses. The potential buyer should act quickly. People are losing their patience with this company.

Seems to be moving but no announcement yet. It’s a shame that it’s taking so long because more and more good people are deciding to leave for a company that doesn’t treat their employees poorly.

any thing new on conduent hrs consulting seperation ? is seperation started

The clock is ticking as the value of the brand slowly and inexorably erodes....

WOW, check out this piece of garbage CEO Ashok Vemuri's compensation arrangement. Note, he can voluntarily terminate and still receive 12 months of salary. Note, he refuses to give bonuses to consulting employees but took a huge bonus for 2016 and a $500K sign on bonus. The only "I" in his investment to employees is to himself.

In June 2016, Mr. Vemuri and Xerox entered into a letter agreement which provided that Mr. Vemuri would become chief executive officer of Xerox Business Services LLC effective July 1, 2016 and Chief Executive Officer of Conduent following the Separation. Under the terms of his new hire offer letter, Mr. Vemuri received an annual base salary of $1,000,000, an annual target incentive opportunity of 150% of annual base salary and a 2016 E-LTIP target award of $2,500,000. The offer letter also provided that Mr. Vemuri would receive a $500,000 cash sign-on bonus payable no later than 15 days following his start date and a 2017 E-LTIP award target value of $5,000,000.

If, prior to the first anniversary of Mr. Vemuri’s start date, he voluntarily terminates employment for “Good Reason” (as defined in the offer letter) or is terminated by Xerox or Conduent other than for “Cause” (as defined in his equity award agreement), then he will be entitled to salary continuation paid over 12 months equal to his annual base salary. If he incurs such a termination after the first anniversary of his start date, he will be entitled to severance equal to six months’ salary or, if greater, the amount he is entitled to under the applicable Conduent severance policy at such time.

CEO Ashok Vemuri Target Short-Term Incentive (% of Salary) for 2016 was 150%, this can be found in the SEC filings. He received 93% of that target. He feels justified in stealing money from his employees to compensate himself and give consulting employees on average 20% of their target which is certainly not 150% of pay. Target is usually 20% of pay. Please explain how this is fair???

SALE IS HAPPENING TODAY!! CAN'T WAIT TO BE SOLD TO A COMPANY THAT COMPENSATES THEIR EMPLOYEES PROPERLY!!

The piece of garbage CEO Ashok decides to take a bonus of $2,452,865 for 2016 (this did not include his equity award). His total compensation was $5,478,907 for fiscal 2016. For 2017, it will be more of the same for this snake but he feels justified in giving the consulting employees historical low bonuses. The consulting employees can't wait to be sold to a company that treats their employees fairly and compensates them properly. Why should this worthless CEO get a bonus and his employees should receive on average 20% of their target bonus? For somebody making $100,000, they are lucky to receive $5,000 as a bonus. It is going to be great when they lose a ton of business without the consulting piece. This CEO will be ranked as one of the 5 worst CEO's in the next few years. He will learn that you absolutely MUST INVEST IN YOUR EMPLOYEES OR YOU WILL FAIL!!!!

Consulting business groups have balls and brains.

Rest of the conduent management have no brains and damaged balls. Trying hard to make baby in one month with their damaged balls by employing 9 ladies to carry each month of pregnancy.

It is a good news for consulting business group.

I agree with the first poster; this is virtually a done deal (slowed only by rumor that another "late entrant" for purchase of HR consulting has raised their hand). In the short term, the consulting organization will likely retain most workers; long term, all bets are off (and prognostications will be difficult, unless folks know the buyer).

That's your opinion. There are 1000s of opinions about this.

Correction: $250-500M divestiture