There are others avenues to reduce costs that are completely out of alignment in relation to what’s left of Xerox. C-Suite head count also needs to be significantly reduced. The other alternative in order to close the “Own It” gap is to reduce C-Suite salaries and compensation packages by a minimum of 5%. Unnecessarily top heavy with the amount of chiefs.
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Embedded in this article is a statement about incentives the state of Connecticut gave Xerox for moving to its current HQ Norwalk office. So, that may explain why certain jobs have remained in Norwalk.
"In 2016, former Gov. Dannel P. Malloy approved a $4.4 million package in 2016 for Xerox to maintain a workforce of at least 150 people at its Norwalk headquarters, with the possibility of adding up to 40 more."
What type of new staff? Executive team? Admin? Contracts?
Seems like if they were trying to run a parallel 'shadow' company within Xerox they would pick an offsite location for them to work out of.
Agree. There is a large staff of new people in Norwalk that have not been announced.
They are building a parallel company inside of XRX with all of these "new" people. As soon as HP deal closes (if it does) they will unveil the curtain and the legacy XRX people will be kicked to the curb and then they will start going after the HP people. 2020 is the last year. if you cannot retire you better be looking for something else...like yesterday!
C-suite people have contracts. If and when they are let go, the company still has to pay out their contracts.
the rich get richer.... sad.
It’s sad to watch XDX (Old XIM) hire new people at salaries far exceeding those who were laid off performing the exact same role. Naresh doesn’t care it seems, and in fact is not able to find good talent in NC willing to take less. Wait until finance reports “staff cost increase” when mgmt asks how much was saved.
You are correct but today they chose to continue reducing the people doing the work. Very disappointed. I understand it had to be done but the relation of e and c let go v the worker bees today was astounding. It tells me they are only interested in lining their pockets and not growing the business.
Good luck with that
You're not wrong, the question is whether it not that's the route they will go.