Thread regarding Conduent layoffs

Tee up the Exec All Hands

In one week 3 leadership meetings. They all say the same thing- nothing. “It was so hard for us to make decisions about the 401k and the health incentive and give you low raises and bonuses.” Cry me a river.

Read the resignation letter posted in the 8K. Tells you some interesting things -

CEO takes board position at other companies at the same time “we’re not doing as well as we’d hoped”

401k drop was “hasty”- sounds like cost cutting game

Ceo Compensation pretty healthy percentage compared to avg worker comps this year - why is that?

Several shareholder class action groups forming to sue over misleading statements by execs... many feel the same way. Stock keeps going down. If you are a shareholder use your vote to show you disapprove of the leadership.

These items are publicly available, look up the recent SEC filings for info on resignation and exec compensation.

One Conduent is a slogan - but make no mistake, there is a caste system in place and senior leaders are getting over.

by
| 2261 views | | 9 replies (last April 28, 2019) | Reply
Post ID: @OP+YKdszzo

9 replies (most recent on top)

Whatever you decide, don’t make it easy for them to RIF you. First, do all you can NOT to train someone to do your job! HCL is an Indian company, their goal is to move your job to India. Always keep that in mind.

Look at how Americans in the management ranks operate. Emulate them. None of them at present training someone on India to do their job. Instead, they are doing all they can to make their jobs look impossible to shift to an Indian.

by
| | Reply
Post ID: @3haw+YKdszzo

CEO compensation page 37 of Proxy filing. (Schedule 14a filing with SEC)

$1M salary

$5.2M stock awards

$780K bonus (APIP)

$46k of other

———-/-

$7M total compared to 11.8M in 2017.

He did much better than most, even with so salary adjustment- he and others made 50% bonus.

by
| | Reply
Post ID: @2yqq+YKdszzo

Thanks for posting the salary information but that was fiscal year ending 2017. Curious what 2018 looked like and if bonus % was in line with everyone else.

by
| | Reply
Post ID: @2lzq+YKdszzo

https://www1.salary.com/Ashok-Vemuri-Salary-Bonus-Stock-Options-for-CONDUENT-INC.html

The Ashok salary information someone just asked about.

by
| | Reply
Post ID: @1hhq+YKdszzo

As a long-term Conduent/Xerox/ACS employee who recently left, please know that this behavior is NOT THE NORM. I weathered many many years of similar c-ap like this, thinking "at least I have my co-workers, at least I get to work from home". There are other companies out there who offer the same pros but actually treat their employees like human beings. Don't waste any more of your years with Conduent!


Where ? Examples? The Corporate world is c-ap

by
| | Reply
Post ID: @1jyg+YKdszzo

Has the 2018 salary for Ashok and his bonus amount been made public yet?

by
| | Reply
Post ID: @1dvx+YKdszzo

One of them slipped and said "adjust to the culture shift". The "culture shift" which was

not defined is that U.S. workers have to "adjust" to getting all of their jobs sent to India

since we will not work for $5 an hour and sleep under the desk (much better than sleeping

and sh--ting in the hole called called home)

So of course you will cannot expect a 401k, or a salary increase. The direction is the complete

opposite. They want U.S. Workers to become so disgusted and quit. That is what this

is all about - to push the few remaining U.S. Workers out. The message is clear.

"We don't want you but as long as you are here work harder and see how little we appreciate

it"

U.S. Workers, Let the sh-- fall apart and when (and if) your manager says something

provide them the same BS that you are fed from above.

Don't do anything beyond the bare minimum (TABS)

by
| | Reply
Post ID: @ote+YKdszzo

Ashok just congratulated himself in the Town Hall for the <1% average raises he gave everyone this past year, calling it aggressive and "it's better than it was, which was zero, I believe". Ugh.

Also said earlier that they "agonized for months" over the 401k match suspension but he had "no choice", and in the next breath says he's hiring lots more senior leadership.

And claims he thinks that every single employee here is committed to Conduent's success. We should show him that's not true, especially when he sees taking things away from employees as things to be congratulated on. I hope Icahn does succeed in ousting this delusional guy.

by
| | Reply
Post ID: @dqz+YKdszzo

As a long-term Conduent/Xerox/ACS employee who recently left, please know that this behavior is NOT THE NORM. I weathered many many years of similar c-ap like this, thinking "at least I have my co-workers, at least I get to work from home". There are other companies out there who offer the same pros but actually treat their employees like human beings. Don't waste any more of your years with Conduent!

by
| | Reply
Post ID: @ivk+YKdszzo

Post a reply

: