Anyone know what's happening in Xerox Europe? All the WebEx did was confuse and worry people.
The writing has been on the wall for some time now. Do we still get the massive 2 percent one off payment in July? All the money is at the top...
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I head from folks in Uxbridge that Icahn's team dug into Xerox Europe almost as soon as the coup was complete. The problem was even their own layers agreed that mass job reductions are difficult, take a long-time, and are costly. In France, for example, depending on the exact situation, a large workforce reduction requires government approval, negotiations with the impacted Union(s), require the employer to maintain pensions for the terminated employees, and their 'severance' is between 1 to 2 years and includes full health insurance coverage for that period. Germany and Italy are similar. The current Xerox leadership team is looking for instant gratification, not a multi-year, high cost effort.
As a FYI, its an easier process in Asia, except for Japan and Australia; but, Xerox’s current footprint in Asia is minimal.
Europe employees are protected under a national union. That is why the hammer is falling in the US.
Solution would be to unionize. (Note: has any US union folks been moved to HCL???
HCL will do nothing but eliminate ppl.
Europe they’re trying to figure out how to do the same there with as little cost as possible. At least most of Europe have labor councils setting expectations of what is owed to the employee and notification periods. These protections are not everywhere!
Our HR rep told us that we would not be getting the 2% in July when we (I am one of the lucky ones) to switch to HCL