Second hand but I’m hearing up to 500 US layoffs in May coming. Such a rough pill to swallow. Sorry that’s all I have.
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“Look at this chart.
https://www.macrotrends.net/stocks/charts/XRX/xerox/revenue
The last time Xerox grew was 2010. Revenue shrunk by 50% in 2015, and we've been shrinking half a billion year over year since then. Revenue reduction has far outpaced layoffs.”
They don’t expect Xerox to grow. They are making the cuts to get the organization down to a size that aligns with the revenue. Right or wrong, they have been very open about that. Go back and read his plans for Xerox. Tells you what you need to know. “Xerox carries the legacy of a much larger business. With processes, systems and resources that are beyond what are required or affordable today. “. - John Visentin July 2018
Cuts will continue until the business “resources” are aligned with revenue. All back office people and processes are still on the block. Anyone that “supports“ sales that isn’t actually sales is on the block. Any process or administrator that is a band-aid for a broken process is on the block. Anyone that administers a process that can be automated is on the block. Anyone that pulls reports, books travel, schedules meetings, fixes error prone billing, researches meters, does anything as an “assistant” for others is on the block. The cutting has not stopped.
appreciate the sarcasm yet that does not get away from the fact that the majority of the predictions/ threads on this site have been accurate regarding the arrival of HCL, the demise of GIS, and the outsourcing of jobs.
high performing employees are leaving daily from the cores and getting paid more money elsewhere without having to deal with this any longer. an epic miscalculation by HCL and XRX management. sales will be bad in second quarter. poor ICONN will lose a few bucks off his sale price yet will still make millions. that is the most unfortunate part about all of this. maybe johnnie douchebag can cuddle him at night to make him get over it.
Look at this chart.
https://www.macrotrends.net/stocks/charts/XRX/xerox/revenue
The last time Xerox grew was 2010. Revenue shrunk by 50% in 2015, and we've been shrinking half a billion year over year since then. Revenue reduction has far outpaced layoffs.
The A4 and low-end A3 products launched to turn things around were not designed with any improved reliability. In fact it was reduced, and having laid off many technicians prior to launch, we did not have the manpower to support them, causing further loss of renewals.
The only hope Xerox has to retain the customers it has and grow from that base. And it's tough with some of these products that were practically designed to not be worked on in the field. (3655/6655 registration assembly/Scanner replacement as small example of a long list of issues).
Good one. #fearmonger