The dumbing down of Xerox.
8 replies (most recent on top)
I second the comment below .It was getting harder and harder to find knowledgeable
competent people in getting the job done.
I worked in supply demand across many divisions within Xerox...What a mess .Glad I’m out..
It’s bad enough saying goodbye to people I have worked with all the years but to lose their experience and know how it getting the job done is a double whammy. O
Whether to leave short of 55 and 30 years service is even more complicated decision than what’s been posted. Yes you get a penalty; but the company has pension assets in a low interest earning account (lucky if you accrue $600 over a year). So you also need to weigh if you leave, take the penalty; but, recover the penalty back in less than 3 years ( what I experienced) because your money is just sitting there accruing next to nothing like n the pension account.
“Retire with full benefits” - I see people still not getting it.
You can leave today with no loss of benefits - because you
don’t collect until 65.
Make sure you understand what the impact of age and years of service is on your pension. Even though Xerox is no longer adding to it, your benefit is greatly impacted if you haven't reached at least the milestone of 55 years old and 30 years of service.
Please don't take any advice from people here on your pension benefits. Go into the benefits tool, and model your retirement date or dates, to see how it's impacted by various factors.
“Retire with full benefits” - I see people still not getting it. You can leave today with no loss of benefits - because you don’t collect until 65. If you are laid off you get the lump sum if you want it and the option is still available. If you want to quit/get fired/“retire early” then you get the reduction unless you have 30 years or are 65. Ok?
True. People aren't being laid off for any other reason except they worked in a department not deemed important enough to keep.
Anyone there starting to have survivor's guilt?
You are glad you survived and were able to retire with full benefits but you know many didn't for no other reason that being on the wrong spreadsheet.