Thread regarding Xerox Corp. layoffs

It's been scooped

I was terminated 2/29. I applied for my Xerox lump sum pension on 3/1. I am still waiting for my check. This is intentional slow pay - they get to keep my money longer. I am so happy to be gone.

The scooped guy is back... I wonder who is making the fries...

Senior management scooped it to make their horrible numbers look slightly better.

You all need to do a bit of research as to how the pension plan actually works. There is no way for XRX to derive any benefit from delaying payments, cash or P&L. Use your common sense and realize if you are getting stupid answers, you are talking to a clerk who will not be able to deviate from the script. There is nothing untoward happening here, it's just the normal internal process incompetence. If you are getting a pension, you have been around long enough to understand the quality of XRX processes...

"I too have gotten delays from Benefit Center on processing my pension paperwork. I believe you are right this is intentional. Any idea can we do anything about it? Afraid getting a lawyer would cost more than amount of lost payment - and why I think it is intentional on Xerox's part to slow pay - they know they can shave 3 months off of paying. This is not right."

Not intentional. Its due to incompetence. Insist they backdate the start date. I had to escalate to even get a lucid response. You will get no info from the 800#.

I too have gotten delays from Benefit Center on processing my pension paperwork. I believe you are right this is intentional. Any idea can we do anything about it? Afraid getting a lawyer would cost more than amount of lost payment - and why I think it is intentional on Xerox's part to slow pay - they know they can shave 3 months off of paying. This is not right.

I was let go in March and am retirement age. I requested my pension paper work via Benefits Web as a life event on March 1. I am taking the annuity not a partial lump sum, just the monthly. In old practice I would have been paid from the month following my request. So for me that should have been April. They have not acknowledged that all of my paperwork is in and approved. I got a letter few weeks after all of my paper was in telling me they need a notary signature for a $100 additional benefit that is paid via check. This is intentional to delay monthly payments. They tell me on the phone at Benefits Center that the earliest I will get paid is July. I am basically getting rolled for 3 months of pension due to delay - missing payment for April, May and June - because the paperwork is so poorly communicated - and delays on them responding and lack of clarity on what paperwork needs to be sent back. I clearly think this is intentional to short pay retirees a few months. It was not like this in the past. Is anyone else getting this run around on slow and delayed payments?

I heard from it's been scooped.

I’m beginning to think that xerox is not a very good company…

For the person who posted the comment - "Last explanation from someone in HR or HCL sounds lame", I respect your opinion. My previous posting was merely an attempt to provide some facts about the current actual lead time of the benefit commencement process based on personal experience. If you find information useful, that is great. If not, that's OK too. For what is worth - I have never worked in Xerox HR nor have I ever been a part of HCL, just a Xerox employee who has just gone through the IRIF process. Obviously I cannot speak intelligently about the executive IRIF process because I am not an executive. As for why Xerox did not hire more personnel to handle the influx of retirement, that's the question for Xerox leadership to answer and I would not even attempt to speculate. However, former employees typically are not a priority especially when a corporation is in a financial crisis but this is hardly unique to Xerox.

"last explanation from someone in HR or HCL sounds lame"

Why? The process was explained perfectly. It's clearly not from HR because the writer is too intelligent. XRX is the lame one. They would never put resources/cost somewhere they don't care about. Ironic that many more will be in this boat shortly. Hopefully including the person who decided to outsource and understaff this disaster.

last explanation from someone in HR or HCL sounds lame, why didn't you hire more personnel to handle the influx of retirements? This sounds ridiculous in the context of the Band A/Exec. bands being laid off in January ahead of everyone else and getting pensions processed in days at the old 100% rate

Due to the 50% lump sum rollover restriction, the pension commencement document (BCD) has to be manually calculated. The hard copy will be mailed to the former employee's address on record (For my package, this step took 5 weeks from the time of the request submission). The former employee then has to complete the paperwork package, which includes the pension election form with notarized spousal consent (if applicable) and the selection for the annuity option, lump sum distribution form, and other applicable forms. The signed forms can then be either mailed to, faxed to, or uploaded into the Benefit portal. After that, it is more waiting time for the package to be reviewed and the money to distributed. For my case, the actual time from package request until lump sum (50%) check received is 10 weeks. The remaining 50% is in annuity and I still have not yet received April and May payments (supposed to be deposited on 4/26 and 5/29 respectively). I have heard that people have to wait 3 week longer now. Given the layoff impacted several thousand employees, the pension commencement process will take longer due the number of employees exiting and the manual nature of the process caused by the rollover lump sum restriction. To be fair, pension commencement process in normal time already took 4 - 6 weeks so under the given circumstances, adding another 3 - 4 weeks is not a surprise. Active employees who are planning to retire from Xerox within the next few months should plan to have sufficient funding for the waiting period of 12 weeks. Xerox leadership cannot scoop the pension fund; however, they can take actions to manage and/or transfer risks associated with pension obligations. Hope this helps.

Thank you. I'll be here all week...

"It’s called the Xerox BOD/SLT meeting."

Now that's funny. Much better than your scooped nonsense.

“ What is it called when you do the same thing over and over expecting a different result?”

It’s called the Xerox BOD/SLT meeting.

I doubt it. Pretty weak number if you did. Pretty sure you got scooped and are just mad the little X sc--wed you.

"I'm already disappointed that the company scooped it. So is everyone else looking for their package."

Well I just received a check for $778,554 so I'm not sure what your definition of scooped is.

I'm already disappointed that the company scooped it. So is everyone else looking for their package.

It’s coming. Enormous backlog due to typically XRX capabilities. Which system/process is not broken? Management incapable of managing. Good at explaining what went wrong as long as they can pin it on someone else. The scooped guy will be disappointed. Expect more backlog Q3 with the next 15%.

it's all been scooped

This is one of the new software apps the company has developed. They expect it will "sell itself" once folks see how much it saves companies in payouts.....

Voya is not located in Sri Lanka and at least it's not managed by Conduent anymore. But so many people must be trying to get out at once because of that March funding letter. There used to be a few HR people in Norwalk that things could be escalated to. They are probably down to just 1-2 people and they must hate their jobs so much right now. It's really unconscionable. Keep at it though. Maybe try contacting the US Department of Labor's Employee Benefits Security Administration (EBSA) or the NY Attorney General's office to see if there is a way to file a complaint.

Sorry about your retirement account but it's Sanjay is doing the needful with it.

Escalate? To HR??

"10 weeks for me. Calling 2 or 3 times a day.. something go up.. Xerox will F^%^&"$ you all the time.. Get Out.."

What is it called when you do the same thing over and over expecting a different result? Escalate!

Increase the dividend!

They are coming.

10 weeks for me. Calling 2 or 3 times a day.. something go up.. Xerox will F^%^&"$ you all the time.. Get Out..

Did all those things - using the contacts. They say they are overwhelmed with requests. But 6 weeks going on 7? Something stinks about this delay. The Voya person handled everything same day.

So you already logged onto the life portal and selected "commence my benefits" and you still haven't received after 6 weeks? Did you utilize the chat now soft key or the contact us either phone or message? Some of the tabs have a "need help" soft key. Did you try writing to the plan administrator address that can be found at the end of the Pension SPD document located in Norwalk, CT? Did you call the 800 # and ask to escalate your request to 2nd level? I don't know if this site will allow posting of the email address if you don't want to use the contact us option on the life portal. If you go to library and select forms and documents - select the N50 RIGP FAQ document for the email address to write to. I would make myself a nuisance and call every single day until I got them to escalate it to someone in the US. My guess is they are just overwhelmed from people filing once they sent out the less than 80% funded letter in March.

I needed the money for an operation.. Xerox no need to forward the paperwork.. I Be in my grave.. get out of this company.. Yes It's over for me..

scooped

Lawyer won't be able to do anything.