Been through layoffs before: with this company and others, but never have I seen this. Xerox is dissolving the 401(k) retirement plan for employees. A letter went out as notification that contributions to the Xerox 401(k) will be stopping and employees must sell their shares - and no fees will be charged. That is serious. Wish I had more insight on what is about to happen. The sale to ATOS was announced and completed but whatever is coming, that wasn't it. Good luck to the workforce. I think we are in for a bumpy ride.
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Employees stand your ground. Boycott overseas operation. Boycott the Board and the US operation. Stop hiding your profits overseas and screwing your employees with false bonuses. Guys stand your ground and ouster Senior Management through litigation and use the press to help battle your cause. What a shame for this Blue Chip company to fall from grace!!