Thread regarding Xerox Corp. layoffs

Class action lawsuit anyone?

The average employer match is about 50 cents on the dollar for the first 6% of pay according to a 2009 study by Hewitt. If an employer decides to suspend its 401(k) match based on this average, it could save about $1,500 per employee each a year. A large company like Xerox could pocket approximately $25 million annually.

If there is an economic downturn coming (think 2008), companies will start to circle the wagons and cut unnecessary expenses - all in the name of glorious shareholder dividends and fat cat bonuses. Add the stock buyback to the mix and you can clearly see that nothing is going to the employees but to the upper echelon of directors and shareholders. Xerox is a ripe plum for the picking.

If the rumor is true, methinks that management wants to use the suspension of the 401K matching as a means of financing the severance payments as a "one-off" expense and then pocket the rest in the future years with a culled workforce.

Class action lawsuit anyone? If there is grounds for one.

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| 2751 views | | 10 replies (last June 24, 2020) | Reply
Post ID: @OP+UzouZWT

10 replies (most recent on top)

What about changing an employee compensation from hourly to "piece work" compensation after 13 years? If I had known that was possible I would have never gone to work for them. The ABC (Activity Based Compensation) plan was forced on employees at print service centers in 2010 with no thought about how to tailor it to a print shop environment. If there was every a case for a lawsuit this would be it.

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Post ID: @b3mro+UzouZWT

The primary cause for legal action for at will employees would be actions from management related to protected class...age, race, s-x, s-xual identity....any and all hostilities and actions should be recorded and shared with a lawyer. most lawyers will provide you a free consultation to review your case and then tell you what merits it has. You have to balance the money, effort, and time this will consume with potential reward. Should a class action pop up, that’s another option.

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Post ID: @8bzo+UzouZWT

Don't roll over and die. Let the lawyers do their lawyerin'

You would be surprised at what a legal team can do to make the Xerox stock so toxic. Take for example - prenuptial agreements. You would think they were ironclad right? But every jaded bride has been able to contest them. Sometimes they win, sometimes they loose, but the biggest looser is typically the one who came up with the prenuptial agreement because HE has to pay the legal fees of the other partner as well. Or pay a chunk of change to make the bad publicity go away.

Class Action Attorneys are real predatory sharks and would love the chance to go after Xerox. Just because!!!

My concern is the divide and conquer mentality Xerox is employing. Everybody is being scattered. It will take some time to compile who was impacted. Maybe we can set up a website for a year or two and keep some basic information on impacted employees and contractors and union folks. Maybe take out a full-page ad directing them to the website. I'm not going to roll over and throw in the towel for those b * t * *s!

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Post ID: @8utp+UzouZWT

There’s no basis for a lawsuit beause they cut severance. Youre all employees at will and they can change pretty much any of your pay and benefits at any time. It’s c-appy but it’s not illegal. Remember the furloughs they did at Conduent? Those were basically reductions in salary. Face it folks. The gravy train has left the station. And if you have a pension, best to look at what it says about the company’s able to stop allowing lump sum payouts and only pay it as an annuity when the pension funding goes below a certain amount. With retirements and layoffs of longtime Xeroids, that fundings got to be dropping fast. Your retirement may look very different than you thought.

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Post ID: @8uye+UzouZWT

I am very interested in a class action suit. To take our severance and buyback xerox shares to enhance carl Icahn who is already worth 15 or so billion should be corporate theft. Congress should be made aware. for me personally it was a 45K hit and i will not shut up. i despise the company and the evil leadership that stole their way in. I find it unacceptable that before a major layoff companies can change their severance packages that employees have been counting on (and in my case over 30 years). There has to be some protection out there legally since Xerox has no moral compass whatsoever. I would fly to NYC and buy the very best attorney the very best dinner and send carl icahn the bill via a class action suit. This has to have merit.

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Post ID: @7ret+UzouZWT

Xerox has done this before ( cutting severance and immediately thereafter, large layoffs). I have zero legal expertise, but my guess is, they can legally do it.

Having said that, if an attorney contacts me regarding a class action lawsuit, I'm in. Even if it only results in negative publicity and plummeting stock value, it's my personal throat punch to Icahn and his band of looters.

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Post ID: @7wdl+UzouZWT

Anyone know a good attorney or law firm specializing in labor law? Dewey,Cheatum& Howe

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Post ID: @7dhw+UzouZWT

This is something that should be investigated/pursued. I find it ultra unorthodox to change severance policy just before the storm hits the fan. If the old policy was the basis for employees staying on and making certain life decisions and/or career paths within the company, then abruptly changing it without any indication that it was coming down the pike, is in my opinion - flat out wrong. We need to find out this malodorous "perfume" is borderline legal. Even if it was legal, a class action lawsuit is an attorney's dream. And it will really make Xerox feel the pain and bog down Shifty Carl Icahan's plan. There is power in numbers. Maybe the Xerox Board wants to divide and conquer and keep us in disarray. Impacted employees and those still in their position should band together and ensure the old policy is re-instated and everybody given the proper compensation plus an additional sum for pain and misery for their stupidity. Anyone know a good attorney or law firm specializing in labor law?

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Post ID: @7fuh+UzouZWT

Do anyone know any labour statute about xerox severance change right before the lay off? Odor of legal action be straight up perfume after this week yo.

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Post ID: @7toj+UzouZWT

Interesting, this is one rumor I hadn't heard yet circulating the hallways, but it does make sense.

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Post ID: @2uns+UzouZWT

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