Thread regarding Xerox Corp. layoffs

There may be some layoffs here and there, but no more large layoffs should be expected

It's a safe assumption. The cost associated with the recent Reduction In Force (RIF) was realized in the fourth quarter. All imposed efficiencies had to be completed before the end of the year because the 1st quarter will be hugely important from the perspective of wall street. The financial results for Q4 will be offset by some of the restructuring costs so they have a built-in excuse for Q4, There will be no excuses in Q1. John V will get up in early February to lay out a new plan for Xerox and talk about all the great improvements that have been made. The anticipation of this announcement has bought him some time, but now everyone will be watching the 1Q19 results to see if the new plan is working. All that being said, there may be some layoffs here and there, but no more large layoffs should be expected (at least until April/May when Q1 results will dictate if additional restructuring is needed to boost profits).

I agree with what’s said in this post by @XaHGuzw-axt .

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Post ID: @OP+XaptJZU

10 replies (most recent on top)

Large Off-Shoring in Accounting, so while it is not a lay-off, it is large and has a big impact.

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Post ID: @6ozi+XaptJZU

No one is safe and no one with any common sense, has any hope of becoming part of a "technology powerhouse" because it's a scam.

JohnV is a con-man trying to make it to his $10 M bonus in May. He absolutely does not deserve the bonus stipulated in his signing contract with his lack of results. Maybe Icahn and Cozza are feeling generous, or $10 million is not much money to them, but with the hit to the stock price under JohnV's watch, he does not deserve the bonus.

JohnV's only tactic so far is to slash and burn, to temporarily bump up the stock price. The Street is not that stupid. Cost cutting is old news under Ursula that cannot generate revenue. JohnV is looking to make an acquisition to do more CEO hand waving. Xerox already tried that. If it were so easy to find a good investment to acquire, Xerox would not be the only suitor in town.

XEROX is DEAD thanks to people with money and their singular focus on making more money.

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Post ID: @6jsq+XaptJZU

Burn it down

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Post ID: @5wqs+XaptJZU

I had a contact in HR that basically said no one is safe period and that the goal was to get the share price of Xerox to $40.00 or higher as per Mr. Icahn and Mr. Deason promised when they launched their coup d'état last year. This would be reached by cost cutting and the full or piecemeal sale of the company to the highest bidder. One of the numbers discussed was a 50% headcount reduction in the US by the end of 2019 Q2, especially if that $40.00 target has not been reached. It's at $23.43 today.

Of course, my contact is no longer with Xerox, so who knows...

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Post ID: @5dot+XaptJZU

Where?

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Post ID: @4wju+XaptJZU

New round of layoffs confirmed for this coming Thursday. No speculation.

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Post ID: @4hnj+XaptJZU

"Are we a Tech Powerhouse yet?"

We will be as soon as Mexico pays for the wall. In other words, no. It's just a catch phrase to catch the dim witted.

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Post ID: @3jcz+XaptJZU

Are we a Tech Powerhouse yet?

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Post ID: @2tak+XaptJZU

My theory on large layoffs, it only takes one person to be laid off to make it a rough day. There are plenty of people who were not a part of a mass layoff that are no longer with Xerox.

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Post ID: @2ria+XaptJZU

I am happy to be corrected but in my experience 1Q is always the quarter with the lowest revenues everywhere following 4Q. Have been there many times. There are still many changes to come worldwide to implement the new strategy (whatever that is) which will involve inevitably staff and location reductions. Remember that the leadtime for RIF in some geographies is much longer than in the US, due to more favorable labor laws, unions and works council procedures.

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Post ID: @zzu+XaptJZU

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