Thread regarding Electronics for Imaging Inc. layoffs

EFI - get WOKE and go BROKE

Well well EFIers!

With EPS going off the books, EFI returns to just being a maker of Fiery widgets which have a fraction of the profit they used to have, and printers which are now being made by a third party (to cut costs dontcha know). Meanwhile, Management has been subjecting us all to DIE-versity and inclusion, even going to the point of hiring a diversity person with no other talents than to tell you that you suck because you are a biological male.

Meanwhile, the good ship EFI is about to take another torpedo to its rusty, leaking hull in the form of yet another recession which is now guaranteed. Are you ready to take another year long, 20% pay cut? Maybe to please the new owners you need to take 25% so they can continue to take their fancy European vacations and eat in trendy New York City restaurants. Hey, maybe you're on the Fiery team and will enjoy another unpaid leave. Get those unemployment applications ready.

This company is DONE. All that's left to do is to try and sell the remaining carcass to another fool who thinks they can make it work. EFI's debt is far too high, and the New York Bankers are siphoning off any profit to line their pockets, and not your pockets.

Like Maverick and Rooster in Top G-n, you have to pull the handles to EJECT EJECT EJECT! Do it before it's too late and you go down too.

| 1519 views | | 5 replies (last )
Post ID: @OP+1he6xZW5

5 replies (most recent on top)

Hopefully they can find a su---r to buy the body before it goes cold. They didnt do layoffs in 2022 and just let attrition shed some cost.

Post ID: @3Brih+1he6xZW5

Hello Riverboaters! This is your friendly EFI is Doomed poster with new information for you. As you know, EFI sells alot of product to Europe? Textile printing, regular printing, etc. Did you know that Europe is about to have a massive energy crises that has never before been seen in the world? You might be asking yourselves, "so what?". This is actually very important.

First, the price of electricity in Europe is skyrocketing. What was once $.10 a kilowatt hour has turned into $1. These prices will continue to rise. Already, countries like Germany and the UK are declaring energy emergencies. Mass demonstrations are happening in other nations. This means that that energy will be rationed. That fancy EFI printer in a factory? Turned off! Printers turned off do not use ink. Lower ink sales!

Second, as the Germans and everyone else freeze and starve, demand for products produced by EFI will fall off a cliff. Who needs to expand their business with another EFI printer when the ones you already own sit idle? Who needs another 1,000 gallons of ink when you are already sitting on stockpile that isn't being used?

EFI's OEM partners won't be selling Fiery to Europe either, as for the above mentioned reasons, buildings will be shut down to save power, and dark buildings don't need fancy new copiers or digital presses.

Good luck with that, Siris Capital Management! Bet you wish you hadn't paid $37 a share for EFI!

Post ID: @1kzws+1he6xZW5

The economic news is IN and it is bad. The United States is officially in a recession. Europe is teetering on the abyss right now as are more than a few of the South America countries. For EFI this always means lack of sales, falling revenues, and even more cutbacks.

Only this time EFI is not in a strong position. Budgets have always been cut hard, raises haven't kept up with the pace of inflation, and EFI has no cash reserves to weather the storm. Remember there is no profit, at all. EBITDA is a fake metric to make executives look good.

With economies in recession, fewer printers will be sold, less ink will be purchased, businesses will delay capital expenditures, Fiery will see demand plunge further. There's no EPS to cushion the blow, they're gone (and the EPS fantasy business was never strong to begin with). We could see revenues hit $500 million or less over the next twelve months.

After each recession, EFI gets weaker and weaker. This recession might be the end altogether.

Post ID: @Ifeb+1he6xZW5

EFI debt at the time of acquisition was around $400 million, and Siris added on another $400 million. Some of that debt was also at very high interest rates.

Because of EFI's weak to non existent profits and declining revenues, the debt service is a real problem. This is why so many financial presentations use EBITDA (earnings before interest, taxes, depreciation, and amortization) to fool employees. They don't want to the remaining employees to know the true condition of the company (near death).

The sale of EPS likely helped the debt situation somewhat if they got a good price and applied proceeds appropriately.

Post ID: @Hnuv+1he6xZW5

Spot on. The diversity shakedown is a sight to behold. I haven't watched any training videos about how to improve business.

What is EFI's debt do you recon?

BTW, his name was goose.

Post ID: @Favb+1he6xZW5

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