Watching LP and his cronies dance their way onto the stage, desperately trying to hype up the partners, was beyond cringe.
Sure, the partners were all smiles for the cameras, but you can bet the conversations around those tables told a very different story. Imagine celebrating on stage while those same partners are calling their Xerox contacts, only to discover the people they've worked with for years are being laid off at the exact same time.
The disconnect is staggering. The ultimate definition of tone-deaf leadership.
Go ahead, Xerox/Lexmark, put all your eggs in the partner basket. You'll soon discover that partners aren't nearly as loyal as the employees you've discarded. Partnerships are transactional. Loyalty is earned, and you're burning through decades of it.
You're doing a remarkable job of steering this ship straight toward the iceberg, all while dancing on the deck like everything is fine.
Years from now, this chapter of Xerox's history could very well be taught in business schools as a textbook example of how to destroy employee morale, misread the market, alienate your own people, and execute yet another failed corporate pivot.
The Titanic had an orchestra playing as it sank. Xerox apparently has LP dancing.
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@The $959 Million Charge (Q3 2026): In its third-quarter earnings report on October 29, 2026, Xerox disclosed a $959 million pre-tax non-cash goodwill impairment charge. This massive write-down was heavily tied to operational friction, rising input costs, and underperformance within its IT Solutions segment. Alongside this charge, the company suspended its dividend, causing its stock to plummet by over 30%......LP probably ain't dancing today.
@zb The execs are high tailing it back to nashville to return their jeans, hats and boots.
@zb had to announce the "freeze" to show Wall Street on Thursday that we are making great strides. Maybe LP should try printing some money on an IGEN...
@OP lol spending freeze now from LP! We need every dollar! If your taking a customer out for lunch get the contract signed and leave before the bill comes. Return your company mobile phone we need you to use your personal phone for work related calls. If your claiming mileage stop! Take the transit and bill to customer. We are broke broke broken.....
There isn't any employee morale left to destroy. They started that process 18 years ago when they quit giving pay raises.
https://www.youtube.com/watch?v=UKfMLI3EAH0
Cringe is the word. Our CRO and CMO dressing up as cowboys in Stetsons and Jacksons (with their groupies wearing silver boots) Jeez. I wonder what the ROI for the event was - anyone know?
The lifeboats were filled with concrete to bring the ship up to its required weight.
The more things change, the more they stay the same. Corruption at all
Levels. Who’s gonna know. Right?
@m1 soon there won't be anyone to lay off to finance management's wages and parties.
Tell us again how good we have it?
@d3 they do continuous, layoffs under the WARN notice threshold so they don’t have to report publicly. I would guess Webster is at about 600-800 people and dropping.
Seems like Xerox spends more money than it makes!
It’s cringe worthy. Every few years they do the dog and poney show for the partners. They take too much margin, introduce them to broken convoluted systems, have them managed by third world people, forgot that print is not their primary business only to have Partners become frustrated and stop selling.
It’s horrible.
Very curious here, everyone talks about people getting let go, but we never really see approximate numbers per region like in the last month.
I am in the Webster, NY area. What are the numbers there, does anybody actually know?
Xerox is not on the way to striking an iceberg. It’s already broken in two and headed 9 miles to the bottom of the Marianna trench in 34 degree water.
@OP+1m5jmygmt Your post might be the best I've seen on this forum.
That is exactly how this will fall out.
Sad but true.
Best of luck to all.
https://youtu.be/IGiQOCX9UbM?si=mGVtOf9m6FRGw9qO
What employees see leadership doing.