Thread regarding Xerox Corp. layoffs

Fortunately you only need to cut lower and lower "%" of the shrinking population as you approach zero.

We are past critical mass and beyond the point of diminishing returns. Cuts, due to dwindling revenues will only accelerate from here. It's, find a bigger fool than Icahn to buy his shares or bust! Remember, Xerox will be one of the bigger buyers of it's own shared.

Buyer of last resort?

Sick and twisted business shenanigans.

The third quarter report gives the numbers:

• 900 employees cut in Q3, with corresponding severance costs (under the reduced severance schedule) of $40 million.

• Expectation is to spend $67 million in additional restructuring over the next year.

Assuming the percentage of severance to overall restructuring costs stays the same as in Q3, as does the severance cost per employee, the expectation would be an additional ~1470 employees cut worldwide over the next year.

So far in 2018, Xerox has cut ~6% of its employees. 1470 employees is about 4.5% of the current workforce, so the pain will continue, but maybe the pace will slow slightly.

It's anybody's guess when & where these cuts will be spread over the next 4 quarters.

John has been asked twice about more layoffs, and both times he answered "YES" when he stated that he had the unenviable job of making the "hard decisions".

That is how self-centered people talk about ruining other peoples' livelihoods.

Sorry to put you in a tough spot, John, but the higher goal is to find common profitable endeavors where you utilize and grow your talent pool.

Step up and lead, don't just cut to make short term numbers each quarter.

Only 900? I suspect more than that. I heard the goal was to reduce the global workforce by 20% (7,000 based on a global workforce of 35,000) to 40% (14,000) by the end of 2Q 2019 depending on actual financial results. Of course, that was before Ichan's US-centirc team began to learn about European Labor Law and Work Counsels, LOL.

I would be surprised to see any significant layoffs until JohnV and company figure out what they want to do with the company.

Are they going to negotiate a new deal with Fuji and then it's business as usual in the office side of the business at which point we really need all the people we have?

Are they going to negotiate a buy-out from some TBD company, at which point there probably would be significant reductions to get rid of duplication in engineering, IT, sales, marketing.

Or are they going to negotiate a new partnership with an IOT manufacturer, where we would have a lot of work to get our controller and workflows to integrate unless Xerox simply puts their name on a partner's IOT and calls it done?