Thread regarding Xerox Corp. layoffs

Article on JV death shows true intent of role.

https://www.msn.com/en-us/money/companies/xerox-ceo-john-visentin-dies-at-59/ar-AAZ0NdN

Visentin, who was also the vice chairman, joined Xerox as its CEO in May 2018 after he was nominated by Carl Icahn. The activist investor’s firm is the biggest shareholder of the company, according to Refinitiv data.

Prior to that, Visentin had been hired as a consultant by Icahn to assist in his campaign against Xerox, when he pushed the company to explore strategic alternatives.

Visentin was also at the helm of the company when it failed at its $35 billion hostile takeover attempt of HP Inc, a merger which Icahn had pushed for in 2020.

In the same year, Xerox, which has been facing a slowdown in demand as businesses cut down on printing their paperwork, laid out a three-year cost-cutting plan under Visentin.

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| 2131 views | | 1 reply (June 30, 2022) | Reply
Post ID: @OP+1huvmsRf

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Anyone who thought CI or this man were coming in to save us is truly touched. This was nothing but a money play that’s failing so far. I’m sure CI and SB will continue to lipstick the pig.

It Is not JVs fault the company was in shambles. This happened well before due to incompetent leadership from the 90s through this takeover in 2018. Every leader in between pilfered this company for their own gain and laid off thousands in the process. The only mistake this crew made was thinking xerox was easy money.

May the man Rest In Peace.

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Post ID: @bhx+1huvmsRf

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