Thread regarding Xerox Corp. layoffs

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At least XRX is not alone on the lay-off front, as many tech firms are doing this, including our nemesis HP. Excerpt:

“HP Inc. layoffs will trigger 4,500 to 5,000 staff cuts by the end of the PC and printer maker’s fiscal 2019. That’s up from an earlier estimate of up to 4,000 job cuts as part of a long-term headcount plan announced in 2016.”

In Steve B's town hall, he made sure to mention he was in the HP leadership during their split and part of the IBM leadership when they sold their hardware division to Lenovo. Make of it what you will, but he has a history and keeps saying how Xerox is becoming a software company. They could sell the hardware divisions (office and production print) and make platforms like Connect Key work across several manufacturers devices.

HP recently bought a printing unit from Samsung for $1.05 billion. Not sure if they would want to buy Xerox now. There are news that Xerox has been working with Dell for months to offer its MPS through the vendor which would also allow Dell to expand its portfolio of offerings.

Steve B. may be a crony of Ichan, but the guy has a very accomplished CIO background:

https://www.amazon.com/Confessions-Successful-CIO-Toughest-Challenges/dp/1118638220/ref=sr_1_2?ie=UTF8&qid=1544622756&sr=8-2&keywords=CIO

He helped streamline DHL's supply chain issues. So, he has the credentials to steer XIM in the right direction. Whether that is the intent or not, only time will tell.

Good point. New leader job is to grt >$40 per share now. Selling in pieces may optimize return. Eliminating headcount of what may seem to be stale redundant employees by a competitive acquirer may help value.

The promotion of internal unknown to Chief HR? Wouldhave hired top outside talent if had longer term plans?

I believe Buttman and Buttman Jr. are just communicating and providing evidence to what many of us are thinking. Not a question of will Xerox be sold. Unknown is is to who and whether it will be to one buyer or more.

Not just HP. Dell could be interested as well. They've tried a couple of times to get into Managed Print Services and failed. IBM might want the services part of the company. Ricoh would acquire us if they can get the cash. I would guess companies are waiting for Icahn to do all of the dirty work so they can have an easier acquisition and better PR. Icahn also needs to fix the Fuji problem. Remember, in the current FX agreement, change of control means the buyer loses access to the Asia-Pacific region. That's a major deterrent.

Peoples have kids that they trying to feed with the special, and you mean to tell me that we can’t feed our kids? Because y’all didn’t order enough chicken y’all knew you were having the special almost two months ago, and thats wrong.

Well Buttman (or is it Mr. Buttman?)...an additional thing to look at is what "The Street" is doing. Xerox stock is down 26% (over $9/share) from it's high at the end of January this year (the NASDAQ is down 5% over the same period of time)....yet, investment groups, analysts, etc are all increasing their position in Xerox stock...or issuing "Buy" recommendations with Price targets in the $35-$39 range (vs. the current $25 stock price). Why such a rosy outlook?

Back in April, Icahn indicated the Fuji deal only valued the company at $28/share (to which he indicated the stock was way undervalued). At the time, Icahn also indicated he felt the company was worth over $40/share. So, if the stock is trading today at $25, and the analysts all have a target of $35-39 (close to what Icahn placed the value of the stock)...what do you think is going to happen?

It appears "The Street" is betting on acquisition/merger vs. Xerox becoming a refurbished "Technology Powerhouse". My money is on the information these billion dollar investors have access to, vs. the rumors we read about on here.

HR changes, IT system changes, culling of staff is all preparations for a "clean handoff" to the new owners (IMHO)...and who other than HP would have the cash, desire and ability to do it? HP has $5 Billion in cash on hand right now. So between cash and stock, they could make a $7 Billion dollar offer to the Xerox/Icahn Board without much difficulty.

If you thought 2018 was interesting, just wait for 2019!!

So.... not much chatter on the HP page of this site (?)

don't forget, HP came to Jeff Jacobson and said they were interested in purchasing Xerox. However Jacobson was too embroiled in the Fuji deal to save his own job and he turned HP down. This was in Nov. 2017.