Is anyone hearing anything about another round of layoffs , next week ?
I overheard a conversation yesterday leading me to believe there’s some major cuts in sales pending ? Blame sales I guess !!
16 replies (most recent on top)
I heard around 80 people from Xerox IT Solutions were let go yesterday.
I heard around 80 people from Xerox IT Services were let go yesterday.
Xerox IT Solutions not services. Manu has a plan…….
ITsavvy (Now Xerox IT services.) RIF started today on our side.
Who, me? 🫄
Maybe emoji guy can explain it to you
YOU
I don’t get why anyone thinks xrx tries to downplay layoffs. What the he-l rock are you under? They PREFER to highlight cuts.
Who and what is XPNS? Stop with acronyms and be direct. This is anonymous site.
"At the rate its going the Lexmark deal won't even make it. There won't be anything left. "
Yup. Who is going to lend 1.5 BILLION to a company worth 778 MILLION, that's already saddled with unmanageable debt, only to turn around and buy a company that, itself, is also saddled with debt?
https://www.industryanalysts.com/93019_lexmark/
Of course they are going to have another IRIF its the end of Q1. That's the only play until bankruptcy. At the rate its going the Lexmark deal won't even make it. There won't be anything left.
The beatings will continue until morale improves...
The biggest tell on Xerox is the former employees button on the careers page lol. It's the biggest red flag if someone is looking for a job at Xerox. Nothing like I'd like to work here and seeing a button that says those effected by Reductions in Force lol.
"Big one expected in XPNS."
I bet there will be stiff opposition
For years now Xerox HR has tried to secretly play down layoffs….only admitting to cut backs when leaked out in the local press.
Big one expected in XPNS.
"but because the stock price is low."
Insiders hold over 9 million shares...
They need to be able to say on the earnings call they are cutting costs (people) because the stock price is so low. Not because they are losing money, or the health of the company, but because the stock price is low.
Companies usually try to RIF people as quietly as they can, but sometimes they don't because they need to spin it as a positive.