My plan doubled this year even though I lost 75% of my accounts. Didn't even know what my plan was until August, or how my plan could have increased that much. and then received a warning letter that I was not meeting plan. Is our CEO and CFO leaving? Are they getting earning letters? Telling the market in Q2 things are great, and then announcing a debacle in Q3 seems to be a huge performance gap. You have to wonder if SB and JB told the board to expect these results and that's why the moved on. How is JB is still on the board is a mystery.
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Why do we have a CEO when there is a board of directors.. Again we continue to layoff the wrong employees. Wake up X.
No, they are perfect for this cesspool.
A new CEO and CFO will not help you. A job somewhere else might. XRX is toast, gone, negative net worth, $1 per share. What are you not understanding?
@ec Correction: not years, more like 15 months. That level of goodwill is due to a having to show the market the real YOY. No hiding behind Proforma and the new leadership demolishing the XEROX solutions and digital services offerings.
@c1 The write down is just a formality. Anyone who can read financials has been making that adjustment in their head for years.
CEO. CMO. CFO. CTO. CIO. The whole bunch.
GG here:
The CEO and CFO we have in place now will most likely be the last ones before a Bankruptcy Petition.
It all comes back to the Goodwill cram down. They pushed it off as long as they could, and finally there are YoY numbers that aren't pro forma and they su-k, they take the $1 Billion Dollar write down, and now the enterprise value is lower than the debt.
It's game over, as far as a CH 7 or 11. The question is when.
@bj A union would only have forced to doors closed earlier. You guys don't seem to understand the money is gone. Even if you received nice raises and bouses this year, its only once. If you are not looking for a job right now (you are already 3 years behind) there is a disaster in your immediate future.
This company should have been unionized years ago. Believe me I’m not a fan of unions but in this case it should be done. Nobody is protecting the employees, a union would.
I tell everyone, document it all, keep track of every conversation and take screenshots of messages. Record conversations because they are coming for ya and I am seeing it daily
"Team we need to dig deep and make every dollar count so we can hit our bonuses at the executive level. Put in the work now so we can give you a raise in 2030 if we survive."
@OP its funny they want the spending freeze now after they have traveled the world " We're back!" And setting up Partner events. Did they not think the bills were going to come in and had not idea how they year was trending? Now the people who do the real selling need to back out of customer and networking events due to make spending freeze during our biggest quarter. Don't trust the comp either when I read no comp adjustments that tells mistakes maybe made in Xerox benefit but won't be corrected for you till 2027.
@OP they don't want anyone making money, delayed quotas so they can make sure no one is makine their # or blowing it out of the water. They are PIPPIN people to reduce force..document everything including how late the quota came, loss of additional support resources. Everything. Bruno made this Lexmark deal happen and he made sure he got a board seat so he can have additional $. He knew the debt load was huge and did want to finish what he started. LP is just here fast tracking himself to a CeO with no experience. Thats like letting your 17 year old who just got his license driving long haul. You know he would end up in disaster. The board is just in it for self interest, you have Deason and the gang there too making money by arranging this ludicrous financing. Everyone's making money except for the employees or shareholders. Someone needs to call highway patrol and get this kid off the wheel.