As a legacy Lexmark employee the last few months feel like my parents got a divorce and we were left with the dysfunctional family; whom parents lie to themselves, go on spending sprees and are barely able to pay the rent at the end of the month.
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@jc Question "And LEX had its own ocean of problems. Bankruptcy was inevitable for both, the acquisition at least offered some potential of a turnaround for those who survived the re-orgs. Hopefully it still does, but that’s pretty much not a possibility at this point."
So without the acquisition do you think Xerox or Lexmark could have turned themselves around without the additional overhead of the debt to acquire Lexmark and then the JV?
@b6 They actually did.
They eliminated their ability to cost-effectively source the actual guts of a printer/copier. Thats why the acquisition was necessary, probably long overdue.
And LEX had its own ocean of problems. Bankruptcy was inevitable for both, the acquisition at least offered some potential of a turnaround for those who survived the re-orgs. Hopefully it still does, but that’s pretty much not a possibility at this point.
But like almost everything both companies have done for the past 15 years…terribly executed.
@ev Many people agree emotionally with the lord of the flies feelings just posted. It will feel this way until the ship is rightsized (with employee count) and things turn around financially for the company. When short buyers aren't a concern, when debt payments are handled better and this is reflected in the stock price and corp actions (no more layoffs on the horizon every quarter.
It's pretty easy to go to work and just do your job without any drama. Why do you find this so difficult?
This is all like the book the Lord of the Flies - where in the absence of social order and supervision, everything collapses into savage chaos and people are pitted against each other. Except in this case it is the absence of clear leadership and communication.
@ap The word is *Marshal.
@b6 Agree.. the downfall of Xerox lays in the hands of SLT. While individual teams and employees need to deliver.. majority of the people aren't in corporate finance or legal making decisions to take out pay day loans, making decisions to make change the way our customers are interactive with and other decisions that are causing the stock market price to drop, the credit rating of the company to be negative effected (causing higher loan rates), making decisions on taking on additional loans and bonds and etc.
@b5 Xerox didn't have to buy Lexmark. Everyone has a choice.. even business leaders.
@ae you didn’t have to transition over …. Everyone has a choice
@ax yet not hired yet what is wrong with this picture? Was the Xerox or Lexmark name toxic?
Took me a year and roughly 200 applications but I’m finally in the running for 2 excellent positions.
Get outta Dodge by 5 pm. Marshall.
@ag some days unemployment seems like a better option that the family stress.
You're going to be legacy unemployed like many of us pretty soon.
@a9 yes we recognized that we were adopted into a dysfunctional family and our last names have been legally changed to Xerox.
That doesn’t discount the feelings that we’re now in a very dysfunctional family.
Legacy lexmark employee = Xerox employee. Have you not got it yet?