Thread regarding Xerox Corp. layoffs

I got the 2 percent raise and because of top of the line performance I got the other 3 percent...then 2 months later furloughed, then laid off...42 years and age 65...enough said!

3 years gone and no raises. Spot bonus Dec 2020 to make u shut up. About $300. No communication on EIP bonus or any incentives. Everything is backed by covid issues safety net. Frustrating and stressful and motivation down and moral low. Wtf

true

Xerox tactics: Bleed money like an oil well needing to be capped at the top while giving the guy or gal at the bottom a new mop and telling them to clean up the mess or they will get fired. There's rel incentive for you.

5%, wow I see VPs getting up ward's of 20% and sales more for bending rules and strong arming sales that are not in the best interest of xerox or our customers.

Xerox acts like they are doing something new and innovative for the employee, but back in the day that bonus near July was called Value Share. They have just changed the name of a benefit that they had taken away years ago when the company went from being a great place to starting on a downhill slide. My advice to current and future Xerox employees: do not believe anything they tell you, believe it when you see it. They do not care about anything but their own pockets and the people at the top will turn on each other for an extra buck.

Maybe Johnny V should take a cut in pay to save the company some more money.

Agree with some prior comments. For D4’s and below a 2% bonus (not salary increase) is so minimal it is BS to think it would motivate anyone. In US a bonus is taxed higher than regular salary. Will be closer to a 1% increase: after taxes:

$30000/year = $300 bonus after taxes

$40000 = $400 bonus after taxes

....

You get the picture.

This may be beneficial to someone making those extraordinary salaries; but does HR and executives really believe an extra $300-500 in someone’s pocket is going to motivate them when we just keep getting the S_t dumped on us that is impeding us from just getting anything done.

Basic good leaders know employees are motivated by many factors; yes monetary is one factor as is others (examples below)

having a good manager who is a servant leader (not selfish what’s in it for me or how does this impact me attitude))

a positive work environment

enabled to use your skills to do your job

Managers that are enabled to be servant leaders

and more.

Lets face it... this company is not getting value out of it’s employees due to a lack of motivation; it’s due to a lack of good leadership (maybe that should be one of the key metrics for their bonus; didn’t see it on the list.. wonder why?)

More layoffs are coming before July

Apply your salary to 2 percent, then take estimated taxes away.

Are you any more motivated or rewarded for achieving what’s definately going to be stretch or unachievable goals.

F---. noooooooooooooooooooo!!!

Talk about turning a big positive (5% bonus for non-managers) into a huge tu-d (2% in first year, replacing any merit increases). Well done crack HR team! If you still trust Johnny Vas---ne, please reach out - I have a fantastic island in the middle of the pacific for sale!

log onto GEMS and go to personal info than go to employment details it tells you your current grade.

It just seems amazing how the stock works.. regardless of knowing publicly how this company promotes constantly communicates all these trends to improve it, awards for vanguard technology stock price getting higher.. yet can’t people see through the glass of how employees feel and what is actually going on.. within the company. So far they have managed to pull if off..

So today Xerox announces a 20 dollar per share dividend on the preferred class B stock to be paid once a quarter. Deason was given 180k of these shares when Xerox and Conduent split. Is Xerox now paying Deason 4 million per quarter?

So basically nobody will ever see a raise again and none of us pee ons will ever get a bonus because Xerox s---s big time and they'll never make those margins, I swear they think we are all mo--ns,

People who can do simple math can quickly figure out this is another takeaway.....add it to the slashed 401K match and the awful benefits package. Speaking of the benefits package, who at Xerox is negotiating this pile of c rap? Wouldn't you think that having an employee base this large would help negotiate price downward? Else they are keeping the variance and stashing it. So they are either incompetent or unethical!

This corporate communication is evidence that they think all of the employees are stupid. Plan your careers accordingly.

Some misunderstanding of grade levels here. XJJTYyZ-kic is correct in what he stated but to build on it there are manager and individual contributor tracks at both D03 and D04. I assume this might vary by business unit but I am looking at the D level guides from HR:

D03 - Manager 1/Professional 1 (former grades 9/10)

D04 - Manager 2/Professional 2 (former grades 11/12)

D05/D06 - Banded levels

D04 was old 11, and 12

The last level before band B which is now D05

The new bonus is for levels D04 and below, just for clarification. A 2% raise would have been better than a 2% bonus.

D4 is a higher level experienced professional, not a manager, in the old terms it would have been like a grade 10-11 before broadband, the broadbands are now all D5+

D04 is now first level manager. It used to be senior individual contributor, but they've suppressed the pay grades to have less bonus elligible employees. D03 is senior individual contributor, D04 is first level manager, D05 is senior manager or principle individual contributor.

'What is the "D04 level"!?'>D4 is four levels of management above a regular employee. A manager of a manager of a manager of a manager.<<

Not true. If you are a manager of a manager of a manager of a manager, you are broad band and beyond D04. D04 may be a first level manager, possibly second.

Seriously.. they need to cut these managers off.. we don’t require any.. look what they even got into regarding the Medicare issue, having even more managers and employees back then! It’s just silly and a joke... they really need to review these lines and specially projects..

5% bonus spread over two pay raise cycles instead of the equivalent 10.25% you would be earning baseline if you got a standard 5% a year. D4 is four levels of management above a regular employee. A manager of a manager of a manager of a manager.

What in the world? 2 percent?! All the fuss for such low percentages.. guys will sales work remotely from home? What compensation plan is it?! How will it work?!

Get ready for another Xsentive style screwing! As a former employee who had his position "backfilled" for going on ltd , I feel for you brothers and sisters.

Get out now, before the red sourball crossed with duct tape burns holes in whats left of your souls!

So, the real question is, does anyone other than John V and some senior managers know what a D04 is? This Xerox speak is so frustrating.

Two things to notice here.

First, as another commenter pointed out, they're moving the payment data from April to July. Sure sounds like more layoffs are coming in the interim.

Second, it's a bonus not a raise. Bonuses keep your base salary the same. That means your salary isn't keeping up with cost of living increases year over year, nor are you receiving incremental increases in the company's 401K contributions year over year. Bonuses can also be taxed at a higher rate, although I'm not sure 2% is enough to trigger that. If they actually cared about the employees, they would have given everyone a 2% raise, not a 2% bonus.

Welcome to your new, inept leader. Any of us choose to remain here are simply desperate fools?

We all did a collective WTF when that email came out. I honestly could not make sense of most of that. What is the "D04 level"!?

Alert: must be employed on July employment date to receive compensation. More layoff’s are ‘coming