Thread regarding Xerox Corp. layoffs

I believe a lot of changes are coming, I have been laid off before in jobs and I know the signs, Xerox s---ed so bad in their own handling of finances that their incompetence will now ruin GIS, so sad because we were so successful, but in the end we never should have sold out to Xerox!

Really , think about it .

Has anything gone right in the last

10-15 years for this company.

As for confirmation in the presidents and sales leaders, it is hard to get since nothing is being announced yet and you get things through rumors and contacts at other cores.

Honestly people are not expecting the majority of them right away. They need to digest the real estate changes before I suspect we will see other major changes. Obviously when all your offices are closing you can assume what else is coming.

Everyone is at risk. Presidents will not have control over their companies and will be relegated to sales leaders. HR, IT, Service and Admin will all be outsourced or consolidated. Comp? Yeah, get ready for slashed salaries and bonus potential. All markets are being consolidated (look at what’s happening in Texas now). GIS will have half the companies it does today when it’s all over. Even its HQ location in Tampa is closing end of Feb.

The cores have until the end of Feb to close. We are actively working to close over half of ours right now.

Does anyone have confirmation on XBS :GIS. Presidents being let go? I haven’t heard of any being let go. What layers of management are at greatest risk ? VP’s? Sales Managers?

Are they looking at performance or are they just picking names from a hat?

Does anyone know ?

Capital for what? More stock buy backs?

NONE of the GIS/XBS Cores have been closed as of today 2/8/2019

I'm wondering if this will manifest into a FIRE SALE aka everything must go.

The best move would have been to sell GIS/XBS. Selling it would have given XRX the capital they needed.

Shame GIS was a fantastic company to work for.

As for the offices closing , think about this: from a company perspective our presence will look much smaller. We’ll have to remove those locations from our website. A sense of comraderie will be gone. And many of us tout “local” as one of our selling points. People like to buy from local companies. And without a physical location we can’t really say we’re local anymore.

How will closing close to half of the GIS/XBS locations affect sales and day to day business ops? Is this actually a net positive in the long run, or will this insert more problems? If a sales rep works from home rather than going into an office, is that really much worse? Just trying to get an idea of the actual business impact these changes will have.

The consolidation of the cores was something that should have been done years ago. It made no sense that GIS had two different companies competing in the exact same markets with redundant staff and management roles. After that is done they will outsource as much as they can to further cut expenses since the revenue growth is non existent.

From the inside, not all of that has happened yet.

We are trying to piece things together through the people that know, no one knows everything and nothing has been announced. They have made it clear that we should expect more changes, as big as, if not bigger then closing 130 to 190 locations.

@Xu5jkqo-1tkq, from my vantage point, pretty accurate. I can confirm Global/XBS Cores are closing at least half of their locations. They people in those location are supposedly going to work remotely.

Paying our bills NET 60? That's accurate, too.

Delaying bonuses and raises? Accurate.

I work at one of the Cores and we are closing 60% of our locations by the end of Feb.

How accurate are these posts?

A post from @XtSf7lI-2dfj mentions that the majority of XBS offices have been closed. Does anyone have details on that?

We are already paid on margin hope it doesn’t change ... I know where he can get some Vas---ne

Most of the Parc stuff they talked about probably won't see the light of day. Remember reusable paper? What happened to that?

The future looks like TWA. Sell the good parts like production print, toner and MPS, take the rest private and load it up with debt. Don't think so? Read up on TWA, where Icahn sold the good routes and the good planes and left the company with nothing.

We should call John...Johnny Vas---ne because we’re going to need it

Heard thru grapevine today that comp plan could be just on the margin of the deal. Sales gonna hate that.

Agree with all. I expected the three year strategy to explain “tech powerhouse” and how a tech powerhouse has flat revenue in 3 years. Instead was business 101: cut cost, optimize things, deal with revenue. It’s a game, snow the investors, become an attractive target. With likely audit findings and high staff departures, the remaining company with a lot of clueless managers will not be so tasty.

Wall Street “analysts” often don’t know enough detail to understand how the company works, what they sell and how it’s sold. In my experience, they really didn’t want to FULLY understand these things. Heck, Ursula and Little Jeff snowed Wall Street analysts for years.

I’ve listened to the replay and studied the slides and this is just BS. There is no software business of substance. There is no pAckaging business of distance. There is little likelihood that anything at PARC is going to make any money in Visentine’s tenure at Xerox. The only real charges is getting rid of most of direct sales and bringing GIS “inside” and continuing cutting costs. Hey, maybe it’s brilliant but I predict that XRX will just get smaller and smaller and smaller.

As for selling off parts: maybe that could happen, but other than FujiXerox/FujuFilm, who would want those pieces????

The future is more cutting, more outsourcing, declining revenues and more layoffs.