Thread regarding Electronics for Imaging Inc. layoffs

This is very well written and detailed all the key points of what is happening at EFI. They keep hiring VP’s and “ senior leadership” (SMH) but they continue to cut the frontline workers. EFI is a rapidly failing company.

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.

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!

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.

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.

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.