Xerox carries over $4.4 billion in total debt against just under $500 million in cash reserves… It seems this is a nonsensical company?
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@d7 True, but Wayland Hicks kept protecting UB.
@cn - It started with Kearns selecting Allaire as the next CEO, instead of Wayland Hicks. Finance guys always negatively impact technology/engineering companies. Look at McDonnell Douglas taking over Boeing.
It started 30 years ago. Going outside the company to hire Thoman was the beginning of the end.
@OP Best case scenario is approximately 1 year to bankruptcy, if you are not near retirement age you better have a plan.
I have friends that went into public works that had no education and at 50 they will be making 100K plus per year with pension paying out 60% of their final average salary and full health coverage plus social security.
Your new job at reduced salary will be supporting these workers getting raises every year and cushy retirement.
I have no idea what I will do for the next 15 years, but I try just not to be bitter about all of this. Seems too late for education to help at this point, I have more skills in many areas than most. My wife is a teacher and is making 25K more than me and will have a great pension. I now know how all the Kodak worker felt.
Godd luck to all.
Good observation Einstein.
@ae -you hit the 🎯 . Bunch of tin plated dictators at Xerox…wah wah wah.
Hey emoji guy's back
I’m beginning to think that college was not in the cards for you.
At least he finally sees it. Some of you still are pretty clueless and think this garbage scow is going to recover.
No possible way. 🗑️🗑️🗑️
Beginning????? Wow, nothing gets by you. This started 15 years ago!
$500 million, 70 days ago at the end of Q1. It could be closer to zero as of today. They lose money each and every day.