It is sad to see what's happening to Xerox. Yes, real problems exist with the company but when Carl Icahn became the largest shareholder, I knew it was just a matter of time before he would set in motion his characteristic move to control the board, oust the CEO and begin the process of splitting up the company (to maximize his investment). Xerox is now in the last phase of his plan. He will be behind its breakup and the sell off its divisions; piece by piece. Google him and you can easily see his playbook. He's done it many times over the years. It's painful for me as I gave 20 years of my life to Xerox. My team and I took great pains to create a great customer experience with every onsite visit. When we walked out of the door; the customer was genuinely satisfied and impressed. Though we withstood the insult of not receiving pay raises for almost 10 years - the work, the customers and the camaraderie made us feel like we really were making a difference in people's lives. We really bought into the Xerox notion that we were "helping people improve the way they work". Then one day you get a call that your services are no longer needed by the company and you realize they fed you a bunch of B.S. Unfortunately, that's the Carl Icahn brand of business. It now seems imminent that his playbook is being run to the detriment of the remaining dedicated employees. But all of you MUST remember; this is no longer about the employees -- it is purely about shareholder value. If companies could be run without employees they surely would do it (this is the frightening thing about the not too distant future involving artificial intelligence(A.I.) where many functions will no longer involve human beings). OK -- I digress.... the bottom line is I truly feel sad to see such a great company go this way. GOD's blessings on those that remain. Do yourselves a favor; be prepared everyone there who has survived being laid off are walking dead and envy those that have left those that survive will envy the dead(in this case those that were previously let go). With the economy on the upswing; there are many opportunities outside of Xerox. Work life CAN be fun again!! Don't be afraid to step out and test the waters. Best wishes to all!!
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An exit package isn’t always in the cards. Many have been let go without one.
Also....one of the best things you can do right now is to clean out your PC. Delete and offload any personal information, files, etc. When the dodo hits the fan, it will happen so quickly, especially in the case of an IRIF. Just be prepared. Sock away some extra cash for a rainy day, update your resume or check into retirement (if you are close) and reach out to your list of industry contacts so that you are not caught with your pants down. Being prepared is so much better than putting your head in the sand.
Well said! I just hope that when the axe comes down it is with a severance (VRIF). I've planned for a layoff for two years now but a VRIF would make it easier to digest. I too - have over 20 years of service and many people are like family.