So all the talk of cost cutting and sc--wing the share holders, senior staff still receives quarterly bonuses through 2028.
This is costing Xerox millions of dollars. Regular employees see nothing, stock holders now see nothing, and they are taking the company directly into CH 11.
How is this legal use of funds???
14 replies (most recent on top)
How much more evidence do you re--rds need before you realize it's a grift? It has been for years. Nobody is trying to "save" this POS. They are trying to get as much out before its completely gone. SB was an id--t, but he walked away with high 8 figures by spewing BS. I can assure you the "cool kids" never miss a raise or a bonus because they are "critical to the recovery plan".
Biggest problem at Xerox/Lexmark VPs/ Managers/ C folks saying work harder to everyone and sell the equipment, install it ASAP, fix the billing for customers, co-ordinate resolutions to all the issues, get the revenue and then ra ra ra we did it. Ummmmm.....no the only thing you did was take a bonus for doing nothing on this deal. LP you want to save money take all these "leaders" out then let's meet in the boardroom and discuss what you have done and its time change over the board.
the company is broke, and they had enough money for retention bonuses for people they want to leave through a voluntary or an involuntary? Why did they give these bonuses to management levels that have way too many layers of managers to begin with? Don't we need to lean out SVPs working for an SVP working for an SVP as part of the reinvention?
@a2 too late.its gone.
Well, I think it is extremely important to retain these very smart managers, their innovative thinking will keep the stock elevated so more people invest. Oh wait, nevermind, it's a 1.17.
Just think about all those stock warrants that Xerox sold, like 210,000 or so at $8 per share. Now that was GENIUS, car salesmen would be doing shots over that one.
@b1 Yeah, I don't think those Eastern European types take kindly to be swindled and ridiculed.
They must be laughing at the Starteepo group, Xerox convinces them to invest, now they are down hundreds of millions. What chumps.
@OP you just have to wonder when the big investors finally figure out that they got played.
Abandon ship
@OP It is akin to draining the accounts before a divorce.
Those fu----s make so much money already they don't need any godda-n bonuses. They should be cutting pay at the top!
@OPThis is why Blackrock, Starteepo and other big investors should force their hand, along with the creditors. A CH 11 overusing committee could trim all these money su-king id--ts and give Xerox a chance for a real recovery BEFORE they steal all the money.
Because nobody cares.