I have a friend who works at Ricoh and we often talk about which company is more hopeless. We agreed on one thing only, and that is that neither of these companies can be fixed, because for that you need to have a vision, and it is missing in both cases.
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Ricoh also has over 80k employees, so much lower % than X is firing YoY
Article notes 6400 cuts at ricoh vs 1500 at xerox.
https://asia.nikkei.com/Spotlight/Coronavirus/COVID-wipes-out-16-000-jobs-at-Japan-and-US-office-equipment-makers
Very similar companies in similar situations.
Who is worse JV or JB?
You could make a case for either.
Xerox by far
Both need vision... 10 years ago. Now situation is hopeless.
Xerox and Ricoh are desperately trying to convince anyone who’ll listen that their pigs are supermodels. Before covid it was a horse race to the bottom. Now both are in complete free fall.