Xerox is cutting HCL's budget.
So HCL is doing furloughs 50% of the weeks in May and June.
It's official.
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Someone asked where this information came from.
This is first hand information:
I am a former Xerox engineer, rebadged to HCL
I am being furloughed every other week during May and June. After June, who knows...
Xerox directed HCL to cut Q2 budget by 30%,
OP - Please cite where you heard this. I saw where HCL was cutting hours by 30% for those rebadged for the next 90 days.
Virtual town hall tomorrow. Up next virtual layoffs.
The elephant in the room is when will direct employees be furloughed or laid off en masse? I'm surprised that XCuts Inc. didn't do it a month ago. Now that they are using covid as a veil to corporate ills, perhaps soon?
FYI, anybody from core badged to HCL and HCL offshore worker working for that core are on that cores payroll technically, Xerox is charging back the core, the Presidents were all complaining because the staff at HCL was ridiculous, for our core we had like 3 people minimum doing the job of 1 onshore with most onshore still there doing a big chunk of the work
I am rebadged but havent heard anything. We have had no cuts to the rebadged or the replacements.
Advice to anyone getting HCL'ed or Furlowed insert the appropriate word for what is essentially 'getting f#%$d':
Run.
Run to your local college, Udemy, whatever it is. Learn a new skill.
b—s— your time tracking as much as possible without getting immediately fired.
Prepare to leave. Prepare full time. With urgency.
Don't be the guy that waits a year and then is all surprised he got laid off.
Build that side business. Run dude. Run!
Advice to anyone getting HCL'ed or Furlowed insert the appropriate word for what is essentially 'getting f#%$d':
Run.
Run to your local college, Udemy, whatever it is. Learn a new skill.
b—s— your time tracking as much as possible without getting immediately fired.
Prepare to leave. Prepare full time. With urgency.
Don't be the guy that waits a year and then is all surprised he got laid off.
Build that side business. Run dude. Run!
IF you were rebadged to HCL, you are now a contractor to Xerox. Xerox can like any company that has a contract with a company that supplies workers who can state there is no work for them and reduce headcount and move that work to Xerox badged employees. This is nothing new. HCL employees are contractors, but full-time employees of HCL. So, you could move internally. However, I was laid off by HCL in Jan 2020 after being on the first wave from XRX to HCL on 4/1/19. My advice to all, start taking classes in areas you need to. Beef up your experience, re-work your resume and cover letter. Now is the time to make the changes you need so you are ready when dumped or want to move on your own.
There is still a number of US engineers that were rebadged to HCL.
They are being furloughed.
"Curious what this budget is? I thought once you were rebadged you came off Xerox payroll. "
Off Xerox payroll, but we still have a contract to pay hcl some dollar amount per year. I assume we will or have changed the terms of that contract, which would require hcl to layoff or furlough.
That is one of the benefits of outsourcing. You can save the heads of Xerox employees by cutting contract. Unfortunately, many of these were previous Xerox people or are overseas and hold jobs previously held by Xerox employees.
Curious what this budget is? I thought once you were rebadged you came off Xerox payroll. There are a handful of rebadged employees still working at my core office on extensions, they make more then overseas and would imagine to go next.
@no work to perform
Contracts, meters, supply orders service calls, collections all don't stop because no new deals are done, I am busier than ever!
Smoke em if you got em
This morning before opening bell, Xerox will release the Q1 result. You are likely to hear these:
- Loss will be in the range of $0.6B for Q1 alone
- No dividend will be declared for this quarter
- Xerox will secure new debt via borrowing - around $800M
- Major sale of assets, namely, real estate in Webster area and closure of a couple of plants
- Further cost reduction effort through furlough across US and Europe.
OK, let's see how many of the above turned out somewhat correct, in the morning.
Correction: Sales HAVE hit zero. Think quietest January ever. But worse.
There is no work to perform. Sales are going to hit Zero.
There is no work to perform. Sales are going to hit Zero.
HCL already did their cuts, they can't do the work now so tell me who would do it, they already let go of most onshore employees
Does it matter? most Rebadges have already been replaced by their third world counterparts anyhow. Sorry to the Guatemalans and Indians, but where were you when I lost my job to you bruh?