Thread regarding Xerox Corp. layoffs

I've not seen anything illegal in more than ten years however I can tell you EVERYONE who had talent left and they ALL look back at Xerox like a little torture chamber... minimal pay, minimal pay raise, abusive management, no space to think outside the box, processes everywhere. Xerox is Dilbert. Quite literally. I'm in the process of leaving myself having figured out my loyalty isn't valued. My role has stopped getting pay raises: can't think of a bigger slap in the face than that. Well, I'm gone. Heck they'll be screwed without me: my role isn't hard but there's no one my geographical state to do it!

I can attest to strange seeming practices but fear Trump style retribution

Is blatant misrepresentation of Corp strategy illegal? That’s a good example in my mind. Investors got a presentation claiming many things that are not happening since the presentation, such as 3D metal. But it’s not fraud of the kind the OP is asking about- such as John V “left drawer” antics. Closest I got there is the Steve B Wipro connections, hard to prove without subpoena.

It wouldn't hurt to try reporting these things to the whistleblower hotline, the message is forwarded right to Xerox's internal audit and legal group when it's reported.

If an asset is transferred from one cost center to another (e.g., between warehouses in different orgs within the same corporation), one of these cost centers will show a credit for the transfer price, the other will show a corresponding debit (in addition to any accounting for depreciation, and maybe other things that are beyond my understanding). These debit and credit entries will basically cancel each other out by the time they reach the corporate balance sheet. I assume the OP was describing something like this (as opposed to a 'sale'), and was only looking at one side of the transaction. If not, perhaps they can clarify their allegation. Provide details of something that is actually improper and I will happily report it.

For sure in various areas, SarBox compliance is not being practiced, enforced or audited as it was before John & his selected chiefs took over. This is a fact.

Unfortunately none of my 40 years were spent at Enron!!

If any of your 40 years was spent in a large, multi entity, public corporation, you would understand.

To the poster who stated that "Booking a transfer as a sale is proper...." I would love for you to explain that in greater detail. Having spent my career of 40 years in Finance I'm sure I will understand your answer.

"Some guy on a layoff site said Xerox management has illegal accounting practices, so it must be true!"

Just because you wish this to be true, doesn't mean it is. Xerox over the past decade hasn't been great to employees with minimal raises & promotions, reduced benefits, outsourcing, and layoffs. Focus on what you know to be true, rather than throwing out BS when there have been no actual allegations of illegal activity.

I can tell they have no evidence by the way his comment is written. Anyone making that kind of accusation better know what they are talking about and be able to prove it. Booking a transfer as a sale is proper which you would know if you understood accounting. I suggest deleting this post and stick to playing video games in your moms basement. Posts like this are just stupid.

To previous commenter: who said OP has no evidence? Asking who knows what was how I interpreted the post, and many at XBS have booked warehouse transfer as a sale, so I agree with the example, even though “revenue” may not be hiw it appears on the balance sheet or income statement.

First off the accounting issue was 20 years ago. Secondly, that is a fairly serious charge from a person with no evidence and zero understanding of accounting. WTF does “what we know is happening” mean. What you are suggesting is impossible and you should be a bit more careful about what you post.