Think about it, how long can we continue with the situation being what it is? Everybody is looking to save money, including our customers. Just because we are still working doesn't mean that the company is not losing money, drastically. I think it's just a matter of time before they announce a major reduction in force...
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Was laid off in 2009 with 30 years. Was not even given the chance to cancel planned meetings or say good bye ..... just 30 min to pack. Was really pi---d off since no reason was given......( I was delivering over a million in MCVs/yr)...and especially since there was an abundance of deadwood available. But as I started my exit by plodding slowly out the door feeling sorry for myself and demoralized something happened. I found my gait pick up and I ended up skipping out of the building. I felt free. My Xerox sentence was over. I was paroled. Never looked back No regrets. Of my 30 years 28 were great and I met some of the finest engineers/designers/buyers and other folks around the world. Xerox was a great company. Xerox provided me the opportunity of a great 401k and a retirement program that allowed me to eventually retire in bliss. Therefore I would like to thank the senior management team for laying me off. I just wish it was a few years earlier.
MARS is similar to previous, more generous, VRIF packages. You may get a few takers in Webster, old timers as you put it, but those packages are long gone. This is a good example of how "younger people" always think they have good ideas, but it just illustrates lack of experience. The poster basically proposed to quadruple the VRIF severance to get old timers to leave without risk of age discrimination. BTW, age discrimination is the most ignored "ism" and about impossible to prove.
Been in Webster many times over past 25 years.... Some great, clever, hard working folk there.... But a fair sprinkling of "bureaucrats " that tend to move slowly also.
Not stupid, but younger, self-absorbed and intolerant of long tenure teammates.
Re the poster inquiring about the MARS program. Get rid of the Old and the Wise, and all that will be left are the Young and the Stupid!
Does anyone have information about the MARS program used in GB? It is the Mutually Agreed Retirement program (Sorry, I don't recall what the S in MARS stood for). It would be a great way to get rid of a lot of old-timers, without worrying about age discrimination lawsuits. You could clear out Webster pretty quickly.
The company is not in great shape, no new products or ability to source products that will differentiate in a reducing market. However Xerox has still strong customer relationships and business agreements, with accompanying business processes and support systems, so far from being worthless Xerox is an attractive value proposition for a company entering either of out traditional western or eastern hemispheres. However the company has not shrunk enough yet or disposed of enough non core activities for to be attractive enough. I know Fuji has stated their intentions to follow their pharmaceutical roadmap moving away from activities such as print, but I strongly suspect that the opportunity to buy out Xerox business operations may force a rethink. It's unlikely Fuji will need all existing Xerox operations such as manufacturing, design ( but would like the IP), legacy product support engineering etc so further consolidation necessary but a point will come where Xerox will offer a value proposition that will be irresistible for Fuji or a competitor...
Please leave me out of your book!
I was laid off, and have never been happier. I was lucky enough to have money coming in from books I’ve written, which will get me through the next few years until I can collect social security. I’m planning a book about Xerox mgmt failures at this time.
I was laid off, and have never been happier. I was lucky enough to have money coming in from books I’ve written, which will get me through the next few years until I can collect social security. I’m planning a book about Xerox mgmt failures at this time.
I laid myself off. I retired. I took my RIGP and 401 and left. Been gone a year and not regretted it at all. I had my fill of X taking perks away every few years. Tired of Carl and Johnny doing their things and ruining the company more. Tired of certain workers sitting and doing nothing for literally days on end. Just because they had minority status, and management was afraid of lawsuits or they were friends with the bosses. All the while others were told to carry the load for the slackers. So glad I'm gone.
This is not the same as 2001. Completely different business challenges with a management team interested in making a deal vs. continuing the business.
Remember back to the 2001 financial crisis at Xerox. Is the current situation as bad, or worse? I really don't know.
Back in 2001 Xerox was on the edge of bankruptcy. I heard we were just a few weeks away from not being able to make payroll. I won't pretend to know anything about the financials and what Anne Mulcahy did to turn the company around.
Many people, including myself, were looking for new jobs thinking we wouldn't be around in a year. I had a number of job offers and seriously considered a number of them. I stayed because I liked the work, the people, and the company. I won't say that I believed we would come out of this ok, as I really didn't think we would, but seeing how easy it was to get job offers I thought worse case is I would look again if I had to. A few years ago I looked at all the companies that I had offers from in 2001, and every single one of them is gone, either out of business, or bought up and jobs moved.
Here we are again, 19 years later, wondering about the future. I don't think the financials are as bad as they were. We are in a steadily declining market. We have a not-so-good relationship with Fuji Xerox for legacy and current equipment acquisition. I assume we have made our relationship with HP more difficult.
We aren't going out of business, the situation isn't as dire as 2001. We will lose jobs, especially with the revenue loss caused by the epidemic. The short term should be safe, for most. Long term though is murkier.
Some Xerox (non-contract) have been let go in the last week. Some have been with Xerox for a long time.
Last 2 posters are correct, but the term excuse is misleading. This is not punitive because the EC dislikes employees, it’s required because the business is failing. Expenses have to follow revenue. If there is no money coming in there is no way to pay employees. This company has been mismanaged for at least 15 years and you are now feeling the impact of that. Find jobs. Even if you are not let go, furloughed, or pay reduced, this is a short term play. Why are so many in this board unable to see that? It’s terrible but nobody cares.
The primary question of the post is simple to answer:
6 months to a year.
It will start much sooner though under the term furlough. The excuse will be used to furlough more than would be required but it’s a safer verbiage than “laid-off”
Johnny won’t lose any of his $23M but pretty much everyone else will lose some, maybe all, of their pay.
Xerox is swirling down the toilet bowl faster every day now
No merger/takeover to prop them up looking like they had some type of power they never really had- kind of like a person thinking they are a king, that kind of foolishness.
No quick sale on a company you tried to polish off and did not succeed so it’s still the dark torpedo swirling around that bowl going deeper down
No new products to bring to market because you trashed any way to produce a new product so they best polish the old torpedoes to sell as new. They’re good at that.
Xerox is done done done
Anyone thinking differently should start rearranging the deck chairs and listen to the music but hand over your life jacket to someone else because you are too stupid to deserve it.
It's sad. No facts but I would imagine executive level is looking where they can shave overhead or consolidate roles during these hard financial times. They can use the excuse furloughed, but it might be permanent. I'm sure those conversations are happening. With sales underwater, how much longer do you continue to pay a full warehouse staff, shop team, account coordinators, trainers, etc. Might be a good time to use PTO..
Pandemic or no pandemic Xerox has never needed an excuse to layoff it’s employees.
Failure to innovate and fund future projects has resulted in declining profits for the last
25 years ..Regardless of what Management
team was in charge the answer has always been to lay-off. Get ready as more will be coming.Sadly,you can bet on it.
After FX is done and gone is there anything they sell that isn't a derivative based on a machine developed more than a decade ago? Not sure why they need the number of employees they have right now.
My opinion only: The impact of the pandemic to xerox business will be pretty dramatic as this company is not diverse in its product offerings not set up to sustain economic impacts - especially since the owners have not been investing in it as the real goal was a fire sale. Since HP deal is dead, the recession will prompt many massive rounds. The “leaders” will not let go many right now as they will not want the bad press of layoffs during a pandemic...but in 3 months time?? It will be bad bad bad.
Very likely there will be a furlough first before anybody loses jobs permanently.