Given the name of this site and the impending N'teenth realignment of the company, a quick history lesson. Since UB's AA hiring in 2009 as CEO, and her dreadful acquisition of ACS, Xerox revenue has declined 60% and the total number of employees has declined 60%. Since John V became CEO in 2018, revenue has declined 27% and the number of employees has declined 30%. Revenue was down 2.5% in the first quarter of 2022, and it will be closer to a 5%+ decline in Q2-2022. If the total revenue decline for 2022 trends at 8-10% year over year as it has for the last five years, we can expect an 8-10% reduction in employment for 2022. This would mean a reduction of 1,900 to 2,300 employees, or 500-600 per quarter. These aren't huge numbers, but just remember, when UB became CEO in 2009, Xerox had 57k employees and $17.6B in revenues. Thirteen years later we have 23k employees and less than $7B in annual revenues.
11 replies (most recent on top)
You’re right … pass the bo-g please !
You have nowhere to go. You failed to maintain relevant, transferable skills. That check pay place down the street ain't your savior.
It’s unbelievable that some people refuse to listen. They’ll never learn.
https://m.youtube.com/watch?v=X3NASGb5m8s
It is unbelievable how many truly think that Xerox’s problems stem from incompetent leadership! Clearly that doesn’t help, but all you great engineers don’t seem to realize the market doesn’t want our products at the same rate it used to. Even if all your ideas on how to improve our products are implemented it won’t change the fact that the world is going digital, and office printing is dying. We are the horse carriage maker of this century, soon we will be a specialist supplier to the advertising market with a couple of thousand employees, likely after a restructuring and consolidation program, and that is it.
UB got rich, so she considers her time at the top a resounding success.
Yes, she IS that selfish, and that uncaring about the workers that busted their as--s under her.
Webster location is a shadow of its former self. Same for Dallas and Chicago centers. Activities being offshored to Manilla and Guatemala have had a major impact on headcount in the US.
EMEA hasn't been as affected, likely because it's much more expensive to IRIF there.
Xerox has surprised me after hitting the iceberg more than once. Bottom line is they just want to buy little profitable companies and have someone else make their products. With the CEO basically being a puppet for Icahn, Deason and a couple of others, If they don’t perform, the are sp-t out and sold. They are letting their the Webster location just shrivel up and die. Many are bailing on the last few life boats. Very sad situation. There is no innovation & vision for engineering. Will the last engineer please turn off the lights!
Another Lean Six Sigma success story!
@xuj - JV, what are you doing up so late?
Oh wow, you did all these numbers on your own? Like you did your own research and everything?? Im so impressed! Thank so you much for educating us. I would've never thought about it seeing that we are in a declining industry. I'm sure we're the only ones and nobody else was affected whatsoever. Well you certainly gave me a lot to think about! Now go take a nap and get a girlfriend.
Yup, Xerox declining. Declining level of quality talent remaining on board too.