I would like an answer from Xerox as to why if I was badged over to HCL and my paycheck comes from HCL that my core is being charged back from Xerox for every salary of every badged over employee, so basically Xerox badged me over to supposedly save $, BUT they are paying HCL who is passing that $ on to me and then Xerox is sending the bill for my salary to my core, ok does anyone else see shadiness in this??????
I was wondering exactly the same thing as @11bxRiLn-1mcm
You would need to get a lawyer to act on your behalf.
Then they have to pay you your proper severance.
Why would they pay you if they can get around it with people who don't know they have options.
Get yourself an attorney who does this for a living.
Now they just pay the salary. No longer paying for the benefits and other costs of employing people beyond their salary. Then, as stated below, as people get cut from HCL, it will be reported on HCL not Xerox.
And don't forget about the accounting benefit, where you have fixed vs variable expenses by paying an outsourcing firm. Same reason Xerox sold Xerox Square then leased it back - accounting looks better, gets the asset off your books and you pay a fixed fee to cover all the facility expenses, taxes, etc. I'm not an accountant, just cynical.
Xerox has been doing this for over 20 years. Back then a large number of engineers were transferred to a 3rd Party company, who Xerox then paid a monthly activity based fee. As the engineers activity reduced the 3rd Party then made the layoffs on behalf of Xerox, who reported lower costs, reduced headcount and no layoffs. The process has been refined to perfection ever since and HCL is no different.
This might be overly simplified, but Xerox pays HCL a “Management Fee” for HCL to provide administrative services etc. The chargeback is probably the amount of the fee that your core is responsible for. Many years ago GE Capital entered into a somewhat similar arrangement with Xerox and created Xerox Capital Services. Our jobs didn’t change, but our paychecks came from GE and in return GE received a predetermined annual Management fee plus the interest gained from GE Capital assuming the Xerox Lease Portfolio. After Xerox’s financial condition approved, Xerox bought back it’s portfolio and XCS was dissolved. We were then rebadged back to Xerox.
It's a slow layoff, essentially when they lay you off, it will be HCL lays off XXX number of employees, Not Xerox lays off XXX number.
Therefore maintaining the Xerox bubble to which the share values resting upon.