How’s everybody doing? Things stable here and Town Hall was good.
Topics regarding layoffs at Conduent
Thanks Conduent for the BEST Xmas gift. RIF’d 3 weeks before Christmas. Apparently there are a bunch today. Watch out
more layoffs happening this week.
Down 4% year over year, Cash on Hand down 70% (from $765 to $236 million) in just the past 9 months! Still going down down down, into the ground, ground ground. They haven't had a single quarter where revenue has gone up since the company was... — read more
Q3 results bad. Company has $236m in cash. Burning around $50m a quarter and $118m in Cash must be paid for Texas Fraud Settiement in January 2020. Selling anything and everything.
They are not paying vendors for critical software applications and just letting the software license lapse. Many systems have been impacted. It is only a matter of time before this whole thing goes under.
Every company in the US lays off anyone age 50 or above in the FIRST rounds to save money on medical costs. Welcome to the nightmare of being labeled a Baby Boomer during the reign of the Millennials. Experience does not matter anymore....cost... — read more
More layoffs today. Last Friday and now today. Same groups. Why not just announce them all last Friday and be done with it? This is terrorizing to keep with the constant RIFS when you know you’re gonna have to let people go. Why not just do it all... — read more
There does not seem to be any information about the RIF last Friday. Where did the cuts occur? (divisions, groups, locations, managers or low-level emps only) There is no doubt that this company will cut anyone regardless of the work they do... — read more
Why is the majority of those laid off over 50???
Several coworkers laid off late Friday afternoon. Supposedly it was a 5% cut across the board.
1 Year ago , over $20 - today less than $6 I'm sure that when they annouce the massive cost-cutting layoffs the stock will get a temporary boost. But don't worry employees, your 401k match will be back in a few YEARS.
10-02-2019 FLORHAM PARK, N.J. - Conduent Business Services, LLC ("Conduent"), a technology-based business services company in Florham Park, New Jersey, violated federal anti-discrimination law when it refused to interview and hire an applicant... — read more
Negative 5% growth. No mention of the matching 401k, but some office sites have Coffee! Otherwise, the same old clown show.
In keeping with the rotten tradition of getting rid of people just before a major holiday. You're terminated and have a wonderful Labor Day.
"A Conduent board member, who was singled out by Carl Icahn’s appointee for contributing to the company’s falling fortunes, has resigned. The business process outsource company announced the resignation of William G. Parrett, the former chairman... — read more
Warning... Get out now! Massive RIF today which will lead to a major client moving business to another supplier in the near future. What is Conduent thinking? How do you let the core team go? No plan in place? After today, I am going to start... — read more
Layoffs at Conduent Tacoma
Is this correct? Conduent up for sale?
Upvote if you agree. Downvote if you disagree.
Both Conduent and Xerox have been using the same playbook - move work to India, cut already meager employee benefits, create a very expensive, ruthless and unethical executive team, etc. And for what? Conduent stock price is down 75% since separation... — read more
In the Q2 Earnings Call, they mentioned looking into various ways to deal with their financial situation, including selling off parts of, or even the entire company. It didn't sound like it's definitely the way the plan, but it's something they told... — read more
$1 Billion writedown. The solution? Hire more sales people. Other than that a bunch of bad sh– will be flying the way of U.S. workers (what's left of them) Pay Cuts are coming to drive more people out and straight Job Cuts coupled with... — read more
How is it going?
This week Conduent had the annual Disaster Recovery Drill The result was that a long list of major systems failed! Now the executive level management is tweaking the results so that they can report to auditors (and clients - the real customers) how... — read more
The place lays off people on a regular basis after having large sweeping hiring sprees... The place was a cesspit of nepotism, m-r-j-a-a, and workers rights violations. They cut back on employees bathroom breaks, taking them out of their break time... — read more
Made the list https://www.msn.com/en-us/money/career/the-worst-companies-to-work-for/ss-AACNbiB — read more
Leader RIFs or resignations have been focused on the business side management chain. Little done to hold accountable those who caused significant damage to the development engine in the company through unnecessary reorganization, obstructing progress... — read more
Part 1 - http://www.thenewspaper.com/news/67/6721.asp Part 2 - http://www.thenewspaper.com/news/67/6722.asp — read more
https://www.prnewswire.com/news-releases/conduent-names-cliff-skelton-president-and-chief-operating-officer-300857723.html Skelton joins Conduent from Fiserv Output Solutions, where he served as President. He previously spent five years as Executive... — read more
Did you hear that thud? It was Conduent falling out of the Fortune 500. "Overall, New Jersey gained one company in the 500, as Zoetis, in Parsippany, came in at No. 487. But it also lost one company, as Conduent, in Florham Park, dropped to No. 517... — read more
No wonder we miss our forecasts and deliver disasterous results, it’s all complete air. Never seen such management style in my life. Leaders promise numbers to the top then go back to squeeze and beat the sales teams to magically come up with the... — read more
Post news here!
And how bad will it get? Conduent leadership will have to make up for these disastrous results and a drop in share price somehow, and sadly cutting more employees is the easiest way for them to do so. So buckle up everybody, this ride is about to get... — read more
Down to 7.68 from 12.50 when the market closed yesterday. Some highlights from an article about the earning call (I missed the actual call): "Yesterday, the company posted disappointing first quarter earnings, with $1.16 billion for the quarter, down... — read more
Q1 call stated that Government and Transportation were problems. The company is still cutting costs. In absence of new growth, the way to recover stock drop is to say you’re cutting more.