A good source is telling me that select Xerox employees received letters today detailing their transition to HCL or severance. There is call that's scheduled for 11AM PST today. Hoping to hear more later on this.
Here's the web link on HCL Press Release:
Mumbai, Mar 19 : HCL Technologies has entered into a shared services arrangement with Xerox Corporation to provide certain global administrative and support functions.
The transaction revenue over the course of seven years will be 1.3 billion dollars (about Rs 9,000 crore).
HCL is expected to make certain up-front and ongoing investments in software, tools and other technology to consolidate, optimise and automate the transferred functions with the goal of providing improved service levels and significant cost savings to Xerox.
The functions will include selected information technology and finance functions excluding accounting, HCL informed stock exchanges in regulatory filings late on Monday.