Gartner has a nice write up, G00301169 that includes:
“Xerox has plans to implement programs that will reduce costs by $2.4 billion over the next 3 years”. This from Feb 2016. It continues “financier Carl I, who owns 8% of Xerox’s shares,... approves of the decision”.
Well of course he does. But he must not have recalled that factoid, or been aware of the already decades long cost containment efforts at the company. Otherwise his OwnIT program was reckless in that the company cannot successfully operate at these low staff and quality levels. But he doesn’t care about the company success, only about growing the share price via manipulations that are not sustainable-buybacks and staff slashing. I can’t wait until this is revealed in earnings. Q1 results may again be obfuscated and “economic forces” blamed, but Q2 is coming for Carl.