I’ve talked to more than a few layed off individuals who have applied for open positions at XRX, to find that they are prohibited from being re-hired because they had already taken a pension or 401k distribution. I cannot find XRX policy supporting this. Can someone provide the policy name/number?
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Typical Xerox policy to sc--w over the Zeroid. Makes no sense .
This just happened to me. I worked for a core for 3 years. Was actively recruited back by my former boss in senior management and also by 2 other departments. I gave notice and left my current position only to be told at the last second about the 401k policy. I had cashed out when I had gotten COVID-19 because you could do it without penalty. No one ever said that I wouldn’t be rehire able. Also, when my former supervisor checked on my rehire status months prior he was never told that either. It’s a terrible policy. I am now jobless.
There are exceptions
In Canada I heard Xerox cannot rehire former rebadged HCL that worked for Xerox for 18 months.
Kind of an odd request if you ask me...but there you are.
Got my buyout. I was done. It would have to be a big carrot to go back to Xerox to be honest. Senior management is a bust for this company. Would love to see it all implode but that would also affect employee. The aforementioned would be fine unfortunately...
this explains some of the concerns around rehires. Xerox was doing a fair number of rehires at one time and there were concerns about a tacit rehire program.
https://www.jacksonlewis.com/resources-publication/prearranged-rehire-retirees-could-disqualify-your-pension-plan
In general, rehires at Xerox was a mixed bag, the turnover rate on rehires was very high and there were cases where employees that were terminated for cause or other performance reasons slipped through the cracks to be rehired with a similar cycle.
The escalation path to get an exception to the "no-rehire" policy is written in the HR policy itself. It needs senior management approval, but yes, it can be done. This isn't overriding the policy, it just requires following a defined exception process.
Not so. I took a buyout and rolled my money into TIAA. Was rehired at the request of higher ups rather than local management. Any policy can be overridden if they need you back bad enough.
I have it someplace buried and yes, if you took 401K or Pension roll over, you're done. You can't be rehired. But then again, why on earth would anyone want to go back to that hell hole? I am so glad to have gotten my money and am out!
@OP+15CZimxQ Rational thinking has gone out the window when it comes to xeroids. Now that things have changed and they aren’t treated like family anymore it hurts. I get it. But new leadership doesn’t care about our feelings. And they go by the letter of their policies. There is good and bad to that kind of work environment where you feel like a family. When everyone agrees and we’re all friends outside of work the waters get muddy. No one seems to think this could have been part of the problem all along.
I'm not sure about the 401K but for pension distributions, there are government pension policies to discourage employers from rehiring employees that have taken their pension. it's to avoid abuse, employees leaving, taking their pension, coming back. Pensions are meant for employees who a permanently leaving.
Sue em
What’s really interesting is Xerox applied this HR Policy to those IRIF’ed PRIOR TO 4-6-2019. Nowhere in any of the documents does it state you cannot be rehired because you dared to roll over your pension and 401k. Pretty spiteful but not unexpected given that Xerox cares ziltch about employees. Employee are seen as a cost that must be eliminated as soon as possible.
I heard it has to do with limited the company’s risk of mismanagement of the 401K plan. Apparently the company can get in trouble if someone was to resign for the sole purpose to cash out their 401K and knowingly they will be rehired.
It should be spelled out in their exit package.
HR policies are stamped internal use only, which is why I didn't quote it. The policy is consistent with what the OP has heard from laid off individuals.
"HR 203.2, effective April 6, 2019."
What does that say, for those of us no longer at Xerox.
HR 203.2, effective April 6, 2019.
I've heard that too regarding pension distribution. I can't imagine why that would be a factor.
Why on earth would you go back there?