Thursday, October 1, 2009

Association of Retired Xerox Employees Initiate Legal Proceedings Against Xerox Corporation

Don't say that no one saw this coming. Even I did. 1442 posts ago, I questioned the idiot decisions the last administration made around the pension issues.

That was on January 1, 2009. Today this got on my radar.
WEBSTER, N.Y., Sept. 30 /PRNewswire-USNewswire/ -- The Association of Retired Xerox Employees, Inc. (ARXE) has retained Counsel (Rupp, Baase, Pfalzgraf, Cunningham & Coppola LLC (David R. Pfalzgraf, Jr., Esq., and Danielle Shainbrown, Esq.) and James A. Marino, Esq., (of Counsel)) to institute legal action against Xerox Corporation, in an effort to maintain and restore health care benefits for Xerox employees and retirees.

Beginning in 2010, nearly 25 percent of Xerox retirees will be stripped of supplemental health care coverage, a promised lifetime benefit for all retirees. Xerox employees relied, worked and made retirement decisions based on Xerox's annual guarantees.

ARXE Chairman David Coriale said, "Retirees are in the disturbing and unenviable position of having to initiate litigation against their former employer to preserve the benefits promised to them for their lifetime of work.

After buying ACS, it's going to be interesting hearing what the Xerox lawyers think they are going to say in court. it would have been so much less expensive to fix this a long time ago than what it's going to cost to fix this now.

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