I’m sorry folks. It’s done. Carl Icahn bought the company hoping for an HP/Xerox or viceverca merger. Didn’t happen. Then Covid hit.This is now a dead company walking. All talent is walking away or fired. Customers are leaving in droves. Revenue is declining at astronomical levels. Stock price is pathetic compared to the rest of the pumped up market. Why? Even the pumpers know Xerox is dead. Run, don’t walk. Within 12 months Xerox will file bankruptcy. Be warned.
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I don’t see de-listing even though they already meet a few of the 5 criteria. While it’s true that market capitalization is already well under the S&P line, and any truly “independent” auditor can attest that governance is “unusual” relative to ethical US companies, that’s not enough. FE-listing is a high threshold. Dismal Q2 results may further erode the Xerox overall S&P picture but it really will take something hitting on company viability to make it fall off the index. That’s coming but I don’t see 2Q numbers as the tipping point. It does not have to be a winner to remain, even as institutional money has begun to see some of the realities behind the XRX curtain.
Left last September and its been amazing despite covid. Years and year of being underpaid at Xerox hurt me badly, & I knew all the hard work I put in would just be rewarded with a pink slip & had enough and left. Found my dream job & even brought some folks from X over. That’s the way to do it guys. When u finally leave X, help your colleagues left over by giving them a reference & get them OUT of that dump
I too saw it coming and left last September. I was at my core GIS company for 32 years and fully planned to retire there. Found a great company to restart my career doing what I love.
Not happy to see my coworkers riding the ship down. Some of them have been my friends for decades and I want only the best for them.
Say what you want about Xerox, but there is no doubt they destroyed GIS and all it stood for. They took the only profitable company they owned and systematically tore it apart to make there bottom line look good and look what that got them.
COVID is just an excuse for them ...it was going to happen anyway. Icahn and company were looking to cash in and move on.
2 yrs ago I started looking for a job and Iat the beginning at 2020 I started a new job outside of xerox. I will be forever sad but I knew it was over in 2018. I gave it the ole college try but I couldn’t deny it any longer. In January when higher ups made thE decision on who to lay off without consulting the managers I knew I made the right call. Sinking ship and anyone who is happy about that can go to hell. It’s been a sad sad story for a long time. My parents paid for 2 daughters colleges and weddings working there. Xerox was very good to my family back in the day. I choose to remember that legacy and not what icahn has done to it
Is it too early to strike up the band?
Delisting is not bankruptcy, but I agree it will not help stock price.
The books have been on fire for a while. FYI, Xerox employees post on here to keep you all
Bold prediction regarding bankruptcy! I think it’s definitely dead and agree with everything you are stating but bankruptcy may be a while away based on the math. (Unless they are hiding numbers I don’t know about).
Q2 results in 2 weeks. The S&P 500 will likely delist Xerox.