The wording in the HCL package says “if your employment is terminated by HCL within the first 3 years of employment (without cause) you will be eligible to receive severance benefits no less favorable than those provided by Xerox”.
Should this make me feel comfortable like I have some kind of safety net?
My heart is hurting for those who are in the midst of making this decision.
In your mind you’d love to say no and hurt Xerox Executive team who put you in this position.
In your heart, you need to take care of your family and loved ones.
Frankly: Your decision should be for what you and your family can deal with. Encourage you to have family conversations!
From what I’ve learned o these posts; many will loose their jobs in the next 6-18months. So, start looking for another job.
Note: really feeling for you if you live in the USA and without assistance pauid for by employer. It is really, really hard without their advise on resume’s, social media, etc. If haven’t looked for a job in the last 10+ years; the process is so different; you’d think you lived in an alternate universe. You really do need help!!!
But don't forget about health care. You will have only 15 DAYS to find replacement health care based on the most recent Xerox HR policy. OP, not much of a safety net.
We were informed that your years at Xerox do transfer and are considered during severance and it’s one week per year. There’s a minimum of four weeks and a maximum of 12.
Another post said that your Xerox hire date carries over to HCL which, if true, would mean that you’d get the Xerox severance based on total years of tenure between the two companies if it is more generous than HCL’s policy.
NOT a safety net at all! You are technically a new contactor with HCL; your tenure with GIS/Xerox does not count as time accrued with HCL (as far as I can find based on research) and you may only be eligible for up to two weeks pay.
I would question whether this applies to the severance offered by Xerox at the time of termination from HCL or at the time of transfer to HCL. Xerox serance is a moving target.