We've been losing so many people for so long, especially the talented ones. If leadership came up with the perfect plan right now, we couldn't implement it. We're past the threshold. We've lost the capacity and the institutional knowledge to pull it off. That last big push was our final shot, in my opinion. And we blew it.
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@ga Cancel all your debts, turn off the lights of the mess we were forced into and after Chapter 11 take 5 years to rebuild a company that will be a shell of what the company use to be but still pay the salaries of the employees whom are still left.
@g4 you have until July...
@c9 xerox people culture is so cautious so conservative so afraid to do anything different thus ch 11 soon unless Lexmark saves the day fires the dead xerox leaders who could not run a lemonade stand
@fx We just plan to outlast the cr-p around us to be the last cr-p out the door.
@cg LEX employees are just less expensive dead wood and your time will come. This story plays out over and over and over again. Outsiders always think they are better. Ask McKinsey, ask BDO, a BCG, ask HCL, ask PWC, ask E&Y, ask KPMG, ask Hitachi Consulting, etc... They all failed. And LEX is failing too. Cr-p plus cr-p does not equal chocolate cake.
Post is completely accurate and fair. 9-10 years ago leaders at the GIS cores would talk about Xerox like an un-turnable aircraft carrier, and local cores were the fighter jets delivering a quality product + a quality service deliverable. Then Xerox removed thousands upon thousands of the local core support, technician, training, accounting, HR, delivery, receivables, payables, technical personnel - sent it all to HCL offshore and not even with a 1 to 1 employee ratio. That was when they lost eons of institutional systems and process knowledge. All that was left were the sales leaders, and as they tried to articulate the sales engine was naturally grinding to a halt because all the necessary labor/grease was gone - then they got pushed out one by one. If you're remaining sales leader was telling 3 years ago, that there was light at the end of the tunnel in 2 years - they were talking about the Lexmark merger as some kind of ethereal problem solve. Now you see can clearly see that the merger just meant further labor slashing, and integration growing pains for as long as Xerox can forestall insolvency. The aircraft carrier is driving directly in the straight of Hormuz... and you're on it.
@c9 The difference is that now Lex employees are slowly removing the old dead wood (XRX legacy) employees though the layoffs that started last year and are currently planned though 2H 2027.
@c9 Xerox is held hostage by its large accounts. Change is absolutely needed, but nobody is ever willing to say which customers are okay to be sacrificed to achieve the simplification.
@c3 You have 3-6 months left. Inefficiencies will never be removed because nobody will take responsibility for the change. That is one of the reasons XRX never changed. The environment is so cutthroat, decisions are avoided. You must be a LEX person. The XRX culture is not, nor has it ever been within any norms. Every consultant hired over the last 30 years has run screaming from the building.
Turn Around!?!!🤣🤣🤣
Fool me once shame on you.
Fool me twice shame on me.
Absolutely bamboozled people.
May whatever deity you worship, have mercy on your souls.
@c3 I don't disagree with the two years.. but I suspect a turn around is more like 4-5 years for the company. The issue isn't if its two years or 4-5 years but does the company even have two or more years of financial health to complete a turn around without filing chapter 11.
Chapter doesn't remove the need to turn around but it does dramatically change how a turn around can occur and under what "weather-like" conditions.
We'll be better in 2 years after the inefficiency and waste is removed. Too many things are done the way they've always been done, rather than the way they should be done. If you started a printing company today you would never build in so many different systems, different processes for different geos, and so many people who just pass information along to the next person. With enough cuts, there will be an initial desperation mode, but then people will start to take ownership and get sh-t done, rather than just passing info along to the next person. I know the change curve is tough, but I've been through it and in the end, the company operates better when leaner.
I find interesting you think even with "the talented ones" that this the sinking ship could be rescued. Not only do would we need a "perfect" plan we would need to execute it perfectly plus about $950mil of cash with no strings attached and a growing marketplace and customers knocking on our doors to bring us business.
@OP completely agree and completely agree with the other reply about rubbish leadership. They haven’t got a clue and are tone deaf
You’re right and you can be 110% sure “leadership” will continue to come up with nothing. They are all unimpressive to a massive degree.