Thread regarding Xerox Corp. layoffs

Any Legal Recourse

Xerox - under new leadership - is keen on dividing and conquering the unsuspecting employees. Trying to make the place as toxic as possible - legally - so folks with not much time invested will leave a sinking ship. But those of us - the glue that holds the place together - having 20, 30 or even 40+ years of service will be royally screwed and lives thrown in turmoil.

I think way back in 2008 - Xerox Retirees had a class-action lawsuit against Xerox.

Remember 2 years ago, Xerox stopped investing 401K money in common Xerox stock and we had to move the cash value into other investment lines. Storm clouds started to brew there.

I'm wondering if there are enough private Xerox investors among us with enough shares to pool into an aggregate fund managed by a law firm, to give the big middle finger to Carl and Company and thwart their plans.

Wondering if there was a way for employees to buy a profitable component of Xerox and make it employee-run and privately owned with profits shared by all equally. Dare I dream...

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| 1321 views | | 3 replies (last August 13, 2018) | Reply
Post ID: @OP+UyZ3sSu

3 replies (most recent on top)

They changed the VRIF/IRIF plan without much notice. I would not wait on the pension! It could cost you tens of thousands of dollars if not more.

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Post ID: @5wes+UyZ3sSu

Remember, Xerox forced sale of employee shares. We all wondered why this would be the case at the time. Many said, well good thing because there are a million better investments for my money. I was just trying to move the needle for the company I work for. Food for thought, now that you mention this!

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Post ID: @ocb+UyZ3sSu

At this point in time, I don't think there are many Xerox employees willing to invest any substantial amount of their own money into this sinking ship, just to give Carl and JohnV the finger. I'm riding this out until they kick me out, as I've been here long enough that it doesn't make sense to leave now, at least not until they change the pension plan.

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Post ID: @opl+UyZ3sSu

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