Buckle up folks - the recent announcements have put the proverbial train on the tracks. 15% in Q1 is just the beginning - expect another 15% by June. Some have said this is all overseas - not the case. X leadership is in daily talks with Fuji to sell - proposals are on the table it’s only a matter of time. Why do you really think LP came back ? To run innovation , or to help structure a sale ?
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Layoffs are happening now in Saint John New Brunswick (at the call center). These IRIFs (Involuntary Reduction In Force) are being felt as we lose great employees with many years of knowledge and experience. I am sure no jobs are being cut overseas however!!!
Reply to the poster who wrote...
"I thought St.John was the “golden place to be”. Almost fed up of hearing about them …. What do you mean no leadership there?"
Not sure where the he-l you heard that from...we are an afterthought and not appreciated by Xerox...they prefer to ship our work overseas to save money.
As for "leadership"...have you seen our center leader lately? Corporate kiss a-s who only cares about herself...not the workers below her. She would sell us out in a second to save her cushy job...
I thought St.John was the “golden place to be”. Almost fed up of hearing about them …. What do you mean no leadership there?
"Won't need engineeeeeers if we arent mannnnufffffacturrrrring anything anymore."
That is not true. When was the last time Xerox actually manufactured products in the A3/A4 category? For a long long time it was Fuji Xerox providing these. There was still engineering needed to create the specifications for the hardware unique to markets outside of Fuji's, there are needs for system engineers to define the workflows, and software engineers to implement. Products that were manufactured by FX and other partners generally don't run our partner's software as is.
Won't need engineeeeeers if we arent mannnnufffffacturrrrring anything anymore.
"If there is an engineer who actually retired from that place at 65 after a full career, please make yourself known"
There is always a need for engineers, at least in Webster. Compared to many parts of the company, engineering groups have had very little reductions in the past 20 years. Most reductions are from attrition.
Those engineers are still here and will retire on their terms.
If there is an engineer who actually retired from that place at 65 after a full career, please make yourself known. Xerox wants to correct its mistake and posthumously lay you off backdated to when you were 53.
Cpo or chief product officer walked out door no sec filing. They are cooking cause this is coming thursday:
Wall Street analysts forecast that Xerox Holdings Corporation (XRX) will report quarterly earnings of $0.51 per share in its upcoming release, pointing to a year-over-year decline of 42.7%. It is anticipated that revenues will amount to $1.79 billion, exhibiting a decline of 7.6% compared to the year-ago quarter.
If you are still there quietly do nothing your exit has already been planned for you....
When law firms are marketing directly to xerox Canada workers… that’s not a good sign.
https://stlawyers.ca/blog-news/xerox-layoffs-severance-pay/
To the poster who said....
"I doubt St. John will be removing positions, if anything they will add. CA is the dialing for dollars mecca. Would rather hear from someone who says "Aay" Versus sanjay."
I work in Saint John and trust me, they send as many jobs away from here that they can. We no longer are the cheap alternative, we are the ones they cut first. Our Senior Leaders do not give a damn about quality, just bottom line. Our center leader here is just a yes person as she is a corporate sell out.
Long lost are the Xerox leaders with business sense, and with compassion (for workers or customers).
They take the stance...if you don't like talking to India...what are you going to do...threaten to leave...then do it.
We need to get rid of the Saint John NB leaders (who do not know how to lead) and maybe we can save some jobs...for a while. So hopefully somebody in power makes the smart moves this round and kicks these folks out...but since they are yes people and a-s kissers, I cannot see that happening.
Sooo the slicing and dicing seems to be happening already With our reinvention diversifying into new tech and selling IT and AI....then making the AI department a new separate company ( which execs got shares in that then) ... we also have it confirmed in UK that SDCOE changes mean that Karl S is gone and William takes over but no official announcement yet..the shares are gonna tank on Thursday. They are not going to be worth a freddo soon...
I doubt St. John will be removing positions, if anything they will add. CA is the dialing for dollars mecca. Would rather hear from someone who says "Aay" Versus sanjay.
Sales force in the NE is in the dark with blinders on. Sales cuts are coming fast and furious after Q1.
https://www.sec.gov/whistleblower/submit-a-tip tk
Do before earnings
Lol I love all of these Orc x veterans holding on for dear life for fuji to save them lmao they have good mgmt which means they certainly don't want all of you all politics, spend all night on writing an email, no skill leftovers that somehow made it this far. They used to say at x watch out the politics will get ya - well it imploded that bs only works when they are people who have a clue left to do a job lol what a dumpster fire!
“Can’t wait to work for Fuji, their management is top notch.”
- Oh you’ll wait. You’ll wait a looooong time. How do you think their management became top notch?
DoT- Japanese lettuce inspection.
Total chaos here in Saint John, NB Canada. Everyone is worried, no leaders are telling us every day hard workers anything.
Most workers are actively looking for another job...the writing is on the wall.
Rumor from Norwalk 11 sell offers made to fujjii 11 rejected since end of q3. Something is up I don't think x wanted to go into an earnings call without announcing a buyer but Fujii won't go on a date too much bad blood...
This industry is painfully in need of a consolidation.
If just two companies could come to an agreement it could be a soft landing for the long slide down for printing equipment.
And yes, this will bring reductions in workforce.
Fuji doesn't want the company, they want the patent portfolio.
Fuji does not need XRX, but some sort of combination would be the easiest path to the US and ROW markets. If that happens, expect another 50% reduction at least.
They finally have wised up. Cutting top level executives salaries is far more effective than multiple low end employees. Why do we have XBS core Presidents, makes no sense. Get rid of them and save everyone else.
I don't know anything about a sale, but I do know there are more headcount reductions coming after Q1.
The beginning of the end was a long time ago. With digital imaging overtaking the printed page, building and marketing copiers and printers as your principal business is similar to being a Harness maker after the invention of the automobile. Or similar to marketing Silver Halide Photography as your principal business in the digital age. Too bad nobody realized how important it is not to put all your eggs in one basket!
Who the F cares if Fuji buys us. We would just slide under them like we were going to do back pre-pandemic and continue on under the Xerox name. Speaking about the U.S. specifically : Do they have a large tenured sales force? No. Do they have a large tenured service force? No. Do they have a distribution and logistics network already in place nationwide? No.
We are still their largest customer in the US. They need us. We need each other. So stop acting like little pan$ies and tuck your rod back into your skirt. There would be no “end” like the chicken little OP says. Minimal disruption for years to come and the soldiers keep marching on.
Rumors posted here 6 years ago were sometimes reliable. I haven't seen a valid rumor in years.
Can’t wait to work for Fuji their management is top notch
The beginning of the end was so long ago. I’m tired of the finger being pointed at the vultures. This is a capitalist society. The strong thrive, the mediocre survive, the zombies like xerox get eaten. Those “goons” served their invaluable purpose: keeping sick diseased from infecting the rest of the herd.
https://m.youtube.com/watch?v=tGKsbt5wii0
The beginning of the end was in 2018 when the JayyVeee gang of goons arrived.
Ok, sounds plausible but how do YOU have this insider’s information.
Not that you would reveal yourself but many people for a couple of years now have said this and many more companies are currently “in talks” with X .
Nothing ever happens and no evidence of this type of rumor, maybe this time.
Probably not.