Thread regarding Xerox Corp. layoffs

It’s insane to me that many are sticking around for a Xerox bonus or the HCL money offered after 6 months.
If we were all confident jobs could be found in a snap - then maybe wait it out
But I felt better immediately starting my job search after the notice I received in March that things were changing

That process took time:
Apply apply apply, little or no response
Then finally a couple bites
Interview, offer, consider the job offer and repeat
It took me 3 months of this to find the right fit
I wouldn’t want to go thru this AFTER HCL lets me go or gives me 60 days notice

Unless you have ZERO responsibilities and can bounce from couch to couch or are comfortably wealthy and can live 12 months without income - you need to be searching EVERY DAY for the next career move

And don’t forget all the BS and LIES you are being told
You can’t trust ANYONE it seems
Not because they are necessarily lying- but because they JUST DON’T KNOW
At my core I trusted two people
And one of them was ME :)

Good luck
Get out!

While nobody should complain about a bonus. I did get my 2%. But it’s not a bonus. It’s your 2019 raise. No 3%(-ish) cost of living raise, like it should be at minimum, just this gleefully worded “bonus”. Yes there was multiple communications about it from Xerox. But most management (at least in our core) didn’t believe it was going to happen until it actually did. Mine wasn’t much but taxes definitely didn’t help. I just anticipated them and personally did get more back than I expected.

It’s only taxed at a higher rate because that total amount put you in a higher tax bracket.

If that was your normal paycheck every payday, that is how much you would owe in taxes. So yes, generally speaking, highly compensated employees pay significant amount in taxes.

Since that was not your “normal” paycheck, most people should get a lot of that back when you file your taxes.

I'm not sure why bonus checks seem to get taxed at a higher rate, but it all works out at the end of the end of the year when you file taxes. You are of course giving the government an interest free loan.

Yep. Sure did. We had to badger management to get any communication about it. Seems like it was taxed at a higher rate. About 38% of it went to taxes for me.

Yup bonus checks are always taxed to hell. FYI same thing will happen when management begs you to not take your vacation time. They will end up paying out half your unused vacation to the IRS.

I hear ya... Me too... Its Awful! I had no idea until I got my statement. Nobody told us this was happening. No communication with management at all! It S—s.........

You mean did I get a direct deposit statement saying that I donated most of it back to the government? Yes, I did. No, not happy.