#goldenparachute

GG here:

So, Xerox will drag along into 2027 and maybe 2028, but what if they don't?

What if this is the last 60 days of ore-petition solvency?

It's a long shot, and not at all likely, but it IS possible, and it would most likely be the IPCO JV that does XRX in.

Here's where we are today:
Preferred and common stock dividends are gone
Cash Flow is dangerously low
LP admits on a earnings call, that a vendor, or vendors, have curtailed credit to XRX
The company's IP is locked up in a 5 year deal with onerous covenants

Starting with the last one, first. XRX's IP is tied up with this deal and can be yanked awain on default. All the other debt currently carried is just debt. This TPG Debt is an actual bo-b that could go off and take down the company. When I can IP, I mean basis things like patents, but that also is the the brand name and logo. Obviously Xerox can't do business without a logo, or the patents underpinning the units being sold.

It is the ultimate greenmail instrument. If things go south, TPG will be the first lender to get paid, even if the other dept holders have to pay them out of their end, to keep using the brand name.

Also keep in mind that LPs current Golden Parachute expires on 12/31 with the "change of ownership" clause. If the end of Xerox is inevitable, why wouldn't LP steer it into the ditch now and get the payout. Also, the sooner CH11 is filed, the better chance they have of pulling out and avoiding the CH7 down the road.

Anyone coming on here claiming these posts are fake is either a manager or executive trying to justify the BS employees are no longer buying, or someone so focused on their own paycheck they couldn't care less about the company or its people.

A company is built on its people, not out-of-touch leaders who couldn't drive a school bus from point A to B, let alone drive revenue or motivate employees.

Now Xerox wants younger university recruits. Why? So they can brainwash them for the next 5–7 years into sacrificing their ambitions, buying into empty promises, and working for pennies?

Xerox, stop selling dreams while playing with people's livelihoods.

It's the same exhausting cycle every three months:

"We've made the necessary cuts. This is the team moving forward."

Three months later: "We need more adjustments, but now we have the right team."

Three months later: "Unexpected headwinds. We need to pivot and reduce costs."

Three months later: More cuts.

How many times can you tell employees they're the future before eliminating their jobs?

People dedicate decades to this company, get let go, and the next sales meeting carries on like they never existed. No acknowledgment, no appreciation. Just another number removed from a spreadsheet. It's corporate musical chairs with people's livelihoods.

At this point, I genuinely believe if every C-suite officer and VP resigned or was replaced tomorrow, Xerox would be in a better place. At least employees would have something they haven't had in years: HOPE. Hope for leadership that can actually grow revenue, motivate people, and rebuild trust. Why do employees always pay for leadership's failures?

Meanwhile, LP appears to have secured himself a nice golden parachute while the rest of us are stuck on a plane going down.

You cannot keep cutting your way to greatness. Leadership is about growing a business, not shrinking it while rewarding those at the top.

People aren't tired of change. They're tired of broken promises, endless layoffs, and being treated as disposable.

Maybe the next round of cuts should start at the top.

There are 20-50 layoffs everyday. Around 200 every week.
The slow bleed continues. The staff members are not getting any extra dime for employment buyouts.
The executive employees get golden parachute. Their severance package has cash payment plus stock.

CISO is replaced. Golden handcuffs of "SVP - Advisor" until year end

Pretty obvious answers. Not much or worse. Retreat like Napoleon had from Russia.

PK, are you listening? Give EH a nice parachute, not sure if it should be golden and tell him to leave.

I am really sick and tired. this all he can show after 2 full years in the helm then what is there for year 3.

We talk constantly about management accountability, but what about the board?

After years of strategy changes, executive churn, restructurings and layoffs while approving significant executive compensation and crazy separation arrangements how should shareholders evaluate the board’s record? Why cutting huge amounts of staff many needed (some not), changing roles with our prep or training for the remaining staff to absorb your choices all while overpaying bad leaders you chose to leave?

Where does management accountability end and board accountability begin?

The history of the CTO or CIO or CDIO or GDIO or whatever title they go by.
Ratnakar 2024-Present
Amish Patel 2023-2025
Anil Bhatt 2019-2021
Ed Smith 2018-2019
Tim Skeen 2017-2018
Tom Miller 2014-2018
Andrew Lang 2008-2013
And each one of them brings in their own cronies.  Then they stop what were doing and we start all over with their agendas.  We never finish anything.
Meanwhile, more and more RIF's happen in the lower ranks, while they all walk away or get fired and leave with their golden parachutes.

How did he possibly manage to sail away with a smooth $3.3 MILLION "severance payment?" With all the layoffs and cuts!

Is Jay ever leaving, this is the longest goodbye ever, uhm and very fruitful goldenmacher bank account.

Four chiefs departed from the floor,
With heavy gold bags by the door.
They left the blue stock on the slope,
And took the cash, and ki-led the hope.

Lou Gerstner set the grand design,
He took one hundred eighty-nine.
A million dollars stacked so high,
For saying his last brief goodbye.

Sam Palmisano walked the line,
And took two hundred seventy-one.
A massive fortune in his hand,
As he walked off to golden land.

Ginni Rometty claimed her share,
With twenty million waiting there.
The revenue was shrinking fast,
But her great payout chose to last.

Arvind Krishna joined them there,
With thirty-eight to clear the air.
His package jumped by fifty-one,
While workers watched what he had done.

Big payouts signed in leather chairs,
While workers cut off vital cares.
The stock may sink, the profits slide,
But severance grows both deep and wide.

I had the impression that Chris was offered the position of next CEO, understanding that to decline meant he walked himself out the door. I guess it counted as an "involuntary termination without cause," which is worth $11M in severance.

Barry’s $11.2 million severance package for the involuntary termination of his employment without cause from Solventum is subject to his continued compliance with restrictive covenants, the company said.

https://www.medicaldesignandoutsourcing.com/solventum-ceo-pay-executive-compensation-severance-median-employee/

https://investors.xerox.com/static-files/101bb5f2-18b8-4db1-897e-52c1c92a3bc7

So, LP has a golden parachute, that pays out for 24 months, or in one lump sum, at 2x his annual salary. This expires on 12/31/26 if there has not been a "Change in Control" of the company (i.e., CH 11).

CH11 before 12/31/26 = LP get 2x salary lump sum and a yet undetermined bonus.
CH11 after 12/31/26 = LP gets nothing.

Maybe there is a filing where they extended that date? If there is one, please share a link, but as this stands, LP can (will) get a multi-million dollar payout if this all goes bust before 2027.

Bonus: This was filed years ago, so it will probably hold up in court. The one they filed on 7/2/26? Not so much...

Nice guy but poor strategic moves. Thank god it’s being cleaned up and Miss. AI gets her golden parachute before she could blow this place up any further

The CEO/BOD - all those 'leaders' can be outsourced right now. It would save on the salaries and corporate taxes for their bloated salaries.

There are many overseas 'consulting' companies that have teams that can do the same jobs - and probably do it better, while delighting the customer and shareholders. If various technology/support groups can be outsourced - no reason why the bloated fat cats can't also be.

The shareholders win as a huge bloated chunk of change isn't allocated for the golden parachutes, but instead invested in the company itself. Don't believe the crybabies when they say 'they have to be in the US' to offer their leadership knowledge to just get their executive bonuses for slurping coffee.

Cut the fat, have some leaders with knowledge run the company.

Group, I should have been more aware of my demise by reading this forum for the past couple of years. I should have put on my clown shoes a few years ago and sat on the plank of the dunk tank as you all would have saved the company at 10 quid a toss. Anyone out there have a good number to call HR so I can get my golden parachute? It's so tough to get an audience with someone who can help. Best regards, Bandy

SB didn't get what he deserved, quite the opposite.

He has a golden parachute, which only pays out reliably IF/WHEN the company isn't in CH 7 or 11. Parachutes get trimmed down, and sometimes eliminated entirely in bankruptcy.

They didn't throw him out a window, they put him in a life raft. He'll get paid out, and after that, look for CH11. IF anyone here read up on his nonsense agreement and knows what the payout timeline is, please chime in. That is a good indicator of when they might be filing.

So.. Verizon's head of its consumer division, Sowmyanarayan Sampath, is stepping down?? Or was he asked to leave??
When ole Danny Schulman stepped into his role in October he helped approved a $4 million payment for Sampath to retain him in his consumer CEO role. While he ordered Verizon's biggest-ever round of job cuts in November of 13000+

So… who’s the next head to roll? Which former PayPal person is coming along the Danny ride??

After years of foisting your su-kage onto SH&A, you are taking the golden parachute in a testament to the clear lack of leadership ability and lack of qualifications you brought to a once mighty division, leaving the group wallowing in debt to the tune of almost $800,000,000 to Blackstone, no clear goals and a culture of pettiness and obsequiousness.

Thanks for the memories and the sh---y raises.

Does he get two golden parachutes? THey kept him past his original CEO contract...

Farmer destroyed Comerica, and is riding his golden parachute of $140 million out of the burning carcass. The class action brought by HoldCo that highlights Farmer’s misbehavior and frauds is mind-boggling. We need to take action and join that class action. Farmer sla-ghtered our jobs (once Fifth Third takes over, at least 45% of us will lose our jobs).

besides the free $20m and salary for a year?

You can't help but wonder why a once great company would purposely hire a corrupt and incompetent CEO knowing that he completely destroyed the previous company from which he came. What's worse, is that thanks to his gross ineptitude, well over 30,000 (and counting) good, hardworking, tenured employees got sc--wed over during his reign. Meanwhile, he gets rewarded and gets to walk away with a 40 million dollar golden parachute fot it. It's criminal.

a company that once was sold, got bankrupt and resurrected from the dead .... imagine all the cash these guys made/ will be making....

should we be suspicious ?

Will Frontier also face a massive lay off initiative?

Dan has brought a typical corporate America culture to Verizon. Long gone are the days of making a good salary, receiving a good bonus, and having a career path. This is the way it is going to go from here on out people... And I speak from experience.

1) Bonuses will be cut
2) Raises and stock benefits will be reduced (stock might be taken away)
3) Layoffs will continue. This is due to two reasons: 1) Dan wants 30% and this first round is only 15%, and 2) Frontier transition means more people on payroll and they can't be touched for x amount of time.
4) Travel will be cut and have to be approved by SVP levels. Any spending will be scrutinized.
5) Offshore jobs will accelerate. AI will take some, but they'll take the quickest path and that's moving jobs to India.

I am speaking from personal experience. I was actually told I had to take an 15% salary REDUCTION to stay with the company. This was over 20 years ago with EDS (Electronic Data Systems) and then when HP took over (sparked massive layoffs then too). Our CEO got a nice golden parachute on his way out.

Verizon has been very generous with their packages and I just don't see Dan carrying that onward. He is a axe man who will stop at nothing to squeeze out a little more profit.

I am glad I left corporate America and now make a comfortable salary in the private sector. I don't make as much money, but I am happy.. best job I have ever had and I make a difference.

I feel really bad for those being let go and for those staying. It's a lose-lose situation for everyone. Best of luck to all of you.

Left on as a “special advisor” so he can keep his $20 million. F the board for even allowing that and F Dan for immediately cutting positions as a means to cost cutting when it is public knowledge that we are paying the man who ran us in to the ground what is basically a massive severance. If I were looking to save I would see that $20 million as a good start

If anything at all, give that S-B the same 2 weeks a year that the rest of us get. Terrible optics and a glaring example of corruption.

I have to say, the leadership at Verizon has done some UTTERLY stupid things. Yet nothing happens to them... For example this Frontier debacle. Buy Yahoo/AOL? Really? Blue Jeans? No one even knows that that is? Why buy Blue Jeans when Zoom, MS Teams, and Google Chat were already well established? Just d-mb...

Really bad decisions and the employees are left with the fallout. Mr. Hans gets his golden parachute... just like those before him.

Dan is simply using Elon's model of slash and cut (e.g. Twitter/X). The problem that Dan doesn't understand is that an application only has so many facets. A network the size of Verizon is extremely complicated and can't be compared to a phone App, but he doesn't care. He's a short-timer.

Best of luck to you people. The job market is good if you live in Texas. If you don't, it is more challenging. You'll find something but maybe not at the pay you're currently making.

Skyworks has created a new severance plan for top executives.
It was approved on November 11, 2025 and filed on November 14, 2025.

This plan only covers Vice Presidents and Senior Vice Presidents who report directly to the CEO.
Directors, managers, engineers, and all non-executive employees are not included.

If a VP or SVP is laid off in normal times, they receive:
• One year of base salary
• One year of company-paid medical insurance
• A partial bonus they have already earned
• Some RSUs that would have vested within the next 12 months

If a VP or SVP is laid off after a merger or company sale, they receive:
• One and a half times their base salary
• One and a half times their target bonus
• Eighteen months of company-paid medical insurance
• Full vesting of all RSUs
• Extra time to exercise stock options

To receive these benefits, they must sign a legal release and follow non-compete rules.

This plan gives very strong protection to VP and SVP executives.
Regular employees do not receive these benefits.

Merry RIF-mas 🎄, thanks for all the hard work and sacrifice. Thank you for putting your Dreams on hold and neglecting your family and health for the sake of making the shareholders and Execs an extra dollar in their Bonuses and Golden parachutes. Now GTFO your services are no longer needed.

Xerox's decline has been nothing short of alarming. Over the past year alone, we've witnessed a staggering 59.6% drop, bringing the decline to 80.26% since 2020. Leadership is the cornerstone of any thriving organization, and I'm utterly perplexed by why Steve B remains at the helm amid this losing streak. When I joined the company in 1999, my stock was valued at $70.58; today, it languishes at a mere $3.43.

I've sat through his last dozen or so town halls, and it's clear that Steve has a knack for serving up a buffet of excuses, each one seemingly more inventive than the last. A close friend of John Bruno confided that Steve B's golden parachute is now a financial burden, and no sane executive is eager to captain this sinking ship. Steve's compensation must be recalibrated to reflect the dismal stock performance. John Bruno has yet to add any value, and Louie Pastor seems to be draining the company's vitality, all while we (the workers in the trenches) continue to bail water from this floundering vessel.

The board has been covertly seeking a way to oust Steve, but they're caught in a quandary with this 125-year-old institution—there are no willing successors. And if Steve were to step down voluntarily, the personal cost would be too great for him to bear.

There will be announced mass layoffs and consolidation plans within a week from now. Underperforming BUs will be restructured or sold and 1000’s will be laid off across the enterprise.

This is first roll out of changes due to Elliott Managment,

Thank you Geoff Martha! Elliott management would have never bought into MDT if you never took over the CEO spot! Enjoy your huge parachute package.

Hey ya T. Rowe fam,

Honest question - why is it that if you're a moderately senior person on the Distribution/Sales side of the business you get a golden parachute (I'm assuming) while so many others just get the boot unexpectedly? Globally it looks like a few of these sales people "retire" or "leave to pursue other opportunities". At the company a lot of the sales people seem to not win much while lose a lot of clients and business. Like a few seem to have come from less well known competitors in the industry and didn't have any demonstrable track record. There's also some that have a track record of bullying. It seems on the investment side of the business there are a lot of well educated, high performing people. The same can't be said for the sales people. The ones that don't get a golden handshake just seem to keep their job and hang on. I chat with some of them and a few are good operators but they're the minority. Honestly, why are the salespeople here rewarded for doing nothing, or even destroying value in some cases.

After 8 years and an annual total compensation of $24m he is worth over $100m and will receive a golden parachute (access to the private jet). Blackrock will be his next executive employment and will skyrocket his wealth even more.

Chuck is walking away with almost $58 million from the CCS and Amphenol deal.

On Monday end of day I was let go. They realignment of management will happen soon if not already.
I'm not authorized per my basically golden parachute to go into major details but I will anyways but not release who I am.
All teams will be no larger than 8. Some might be smaller and other rolls that entire teams did will be offloaded to other teams removing the fat from the organization. This will be hush hush as they move forward. They will be evaluating folks currently to see who is at the top of the list and who is at the bottom of the list.

Subsea layoffs it's official now! Moving folks into one regional group most likely off shore!
Leadership Failed Us and lost the contracts and all have received their Golden Parachutes while the rest of us Peasants deal with the crumbs and fight for little of what's left. Brace yourself winter is coming!

If I had 10 cents for every dollar wasted over the past 15 years, I'd be wealthy. From IT solutions and overstaffing to training and firing thousands of nurses, plus failed EMRs and workforce management, the waste is staggering. Worse, those responsible were paid handsomely for poor results and received golden parachutes when their failures became clear.

All these executives are getting golden parachutes but they gone

We still are not hearing that directors and VPs are being let go. Today 65 finance advisors and 7 finance managers were informed that today was their last day. 1 manager and 4 employees of the student accounting department were also let go. Enrollment numbers are declining and the marketing, IT, and financial aid departments are definitively failing to do their jobs. The decline started when the Credit Suisse guys came on board and continued with the onboarding of the app Vocado and that wreck of a CIO who had no idea. It is time for the 'GOLDEN' parachute employees to leave without their parachute. They have caused the downfall of what was once a great university.