Thread regarding Xerox Corp. layoffs

so... Icahn was not able to sell at $40/share... he was lying all along about the HP deal. HP never wanted the deal - it makes no sense from their position. Icahn scuttled the Fuji deal (which was at $35/share with room for negotiation) with the backing of his friends in places like the Wall Street Journal who pumped up his false claims. The stock is now at $17 and change.

Who paid the price? the rest of the investors, employees and customers. Amazing that none of the "business press" is talking about how this company is being run into the ground. I'm sure once it's dead they will write lengthy articles blaming "technology" and "market forces" but not mention their own role in this fiasco.

The only question is how does Icahn make more money from this mess?

All good things must come to an end ... Sorry Xerox but you are done, done, done.

From the perspective of most employees, Xerox IS dying! The entire field engineering staff was essentially fired and their jobs farmed out to overseas call centers with absolutely no experience whatsoever. This was based solely on the cost of labor with total disregard for the quality of product provided. Our inventory system, which used to be managed in Rochester, was farmed out to a 3rd party and is now in shambles! Employee benefits are so bad that the average person can't afford to get sick. a $6000 deductible, are you kidding me!!?? Xerox just announced they are canceling the 401K match for 2020, which essentially means, the 401K match is over permanently, based on past company promises that failed to materialize. New products introduced to the field are engineered to be "good enough" and the field is left to resolve issues as they arise using our customers as guinea pigs, and believe me when I tell you, there are usually significant problems! And, by the way, if you think the product you are purchasing is brand new, think again. Many "new" products are actually pieced together with "recovered" and/or "refurbished" parts (if you're lucky). I used quotations because when opening some of the "new" machines for installation and service we can see the dust, dirt, rust, and paint overspray, where there should be none. Xerox employees are just a number to some big shots looking at a spreadsheet. Customers are an afterthought. Yes, Xerox is dying! Will the last person to leave please turn out the light.

I have been laid off twice from Xerox as a full time and a contractor, and I find it hard to pin one reason down, but I think the gluttony spending and accruing terrible debt in the 90s placed Xerox on the death march.

Actually, I think no one wants to buy printers or get service contracts for Xerox printers because they are too expensive. They are fantastic printers but cheaper units like Cannon, Richoh, and HP undercut Xerox's business often.

Xerox also had a problem infiltrating service contracts for Small Businesses or any office that needed at most two or three multi-function units. Companies like ProSource and Modern Office Methods nailed these niche businesses at Xerox's expense.

It is a shame, the people there were some of the best people I ever worked with. I loved the remote meetings with the Project Managers, Transition Managers, etc. We achieved some great work, solved large problems, and I learned a lot from these great people. I remember these people fondly.

Then there some bad apples such as the HR facility in Texas. They were the laziest, rudest, and unproductive group of professionals to work even by common industry HR standards. Paperwork was often lost and had to be resubmitted several time. A few people lost tuition reimbursement from them due to untimeliness. Their reputation caught up to them because the facility was shut down and their functions were moved to an Employee Services model. Very good decision. The problems were far less.

Ichan's presence is the Endgame for the industry, and Xerox and HP should have merged years ago, and merged Xerox-HP or HP-Xerox today will only slightly delay the inevitable. Ichan knew this from the beginning because this merger is a move by Ichan to redeem a Life Insurance policy on a corpse of an industry to make him richer than he already is.

Too bad! Decimate a company to make it more valuable to outsiders.

LOL @YgcszNE-xdu .... Ichan is the ONLY one winning ...

True, a value of an equity of the Stock XRX has increased based on the perception of the market. True that Icahn was a driver making this happen. - However, “Xerox” is dead. Xerox was a great company that lead through great products, remarkable innovation, excellence in customer service, and by investing in employees through training and benefits. - all the things that defined Xerox are no longer. Xerox was destroyed by greed and a lack of vision by CEOs and business unit leaders of the past. While Anne Mulcahey has a good reputation based on employee memories, she actually sealed the fate by selling off the world class training facility in Leesburg Virginia and by bringing up Ursula Burns. The training center was the lifeblood of the Xerox culture and community. Ursula was a disaster. Greed was rampant by the sales staff from SVPs to reps. Too many people got paid commissions for every deal, and sad to say, compensation drives behavior. Nothing was done to uplift Xerox for the future. Between a lack of culture, greed of sales leadership, and a despised CEO in Ursula, Xerox had no way to rise back up. In summary, Yes Virginia, Xerox IS DEAD!

From the inside looking out, Xerox appears to be dying. But, from the Wall St. perspective, if Icahn sells for $40/share, Xerox will be valued at over $9.6B vs. the $4.6B it was valued around Christmas last year. Although the changes hurt us, the employees, it has increased the value of Xerox to a potential buyer by nearly 100%. I know it makes you feel better to think Xerox is "dying", but the reality is Xerox currently has more value than it has in over 15 years.

Not trying to troll anyone, just providing a different perspective. From Icahns perspective, he's winning.