#company

Guy named frank took over the company and bled dry. Got away with all your 401ks.

Hopefully to lighten the mood for some this evening while they enjoy an IPA or wine (or even scotch, Peter since we know you come back here often).

The record Halloween blizzard hit Minnesota inundating Twin Cities and Duluth both over 2 feet of snow.

Desi's 1st day of work as CEO was Friday Nov 1st. Somehow he showed up but people at 3M Center were given Friday off. Not sure about Cottage grove. I don't even remember how people were told but THAT 3M is a faded image of what is today. Sounds like SOLV is being ruined by Hanson.

Any fun times feel free to share as I head in after Halloween on the porch and get the 1st IPA of the night poured. Cheers!

https://www.hiboost.com/blogs/news/at-t-vs-verizon-vs-t-mobile-best-5g-coverage-comparison-2025-complete-guide?hl=en-US#:~:text=If you live in or,that others sometimes don't.

What number does the big boss have in mind? The layoffs won't stop til that number is reached.

With yesterday's announcement of the T&D reorg there were a lot of people laid off, but it's hard to know the scope since they don't announce anything anymore. What's everyone hearing? I know of four tech VPs that were let go, and it sounds like a bunch of SDs/ADs/Mgrs as well, and I know of at least a handful of individual contributor from one specific area.

So what happens if you only come once or twice a week instead of 3?

New here… was planning on coming today but something came up, can I just come 4 times next week or will my manager get an email about not going in 3 times this week?

They will tell you in Townhalls that other places "like" the Open Plan, unassigned hoteling.

The truth is that if you actually speak to any of those "other places" (San Ramon, Perth, etc.); none of them have a good thing to say about it.

HMP is a slow motion disaster, designed to get you to quite without severance.

SteveB,

You just reported Q3’25 results.

Let’s strip out the “reinvention” slogans and talk GAAP facts.

Because GAAP is the real score: it shows what a company truly earns and spends, with no special adjustments or “creative” add-backs.

Here are the questions employees and investors deserve answers to:

⸻

Q3 GAAP gross margin was 22.7%, not the ~29% “adjusted” number repeated on calls.

When will Xerox return to even 25% GAAP gross margin?

If not in 2026, what is the plan?

⸻

GAAP operating results remain NEGATIVE before interest expense in pro-forma terms.

How do you claim “positive operating momentum” when GAAP still shows operating LOSSES?

⸻

Xerox already took a ~$1B goodwill impairment in Q3’24.

Analysts expect another ~$1B in Q4’25.

After ~$2B in goodwill impairment in two years, how can you claim the strategy has created value?

⸻

Quarterly interest expense: ~$70M

Annual interest burden: ~$280M

How does Xerox service this debt load when GAAP operating income is NEGATIVE?

⸻

2025 Free Cash Flow (FCF) guidance cut to $150M, while cash generation relies heavily on receivables liquidation (~$400M).

Once receivables are gone, what funds operations?

When does Xerox produce true operating cash, not working-capital pull-forward?

⸻

Cash at Q3’25: ~$535M

Expected Q4 hit from impairment, restructuring, interest: > $1B

How many quarters of runway remain before EXTERNAL CAPITAL becomes MANDATORY?

⸻

Headline revenue +28% was entirely acquisition-driven.

Pro-forma organic revenue: -8%.

When does Xerox deliver organic growth — without buying it?

⸻

Legacy print equipment installs declined 24%; core print post-sale revenue -5%.

At what point do you acknowledge the print decline is STRUCTURAL, not “delayed demand”?

⸻

Synergies raised to >$300M, but integration costs are front-loaded and recurring.

What percent of announced synergies have actually hit GAAP results?

Not adjusted — GAAP. Give the number.

⸻

Moving SMB accounts to partners, closing direct touchpoints, offshoring operations.

Is this a transformation — or a cost-collapse to survive declining print economics?

⸻

Xerox booked a valuation allowance against deferred tax assets.

If the future is so bright, why does your own accounting tell us future taxable profits are uncertain?

⸻

1200+ roles eliminated.

Yet no GAAP earnings improvement.

How many more jobs must be cut before the financials turn? Or is cost-cutting the strategy?

⸻

Final Question:

When will Xerox return to GAAP profitability and positive GAAP operating cash flow without working-capital burn?

Provide a quarter and a number.

No slogans. No AI buzzwords. No “Reinvention” language.

Just GAAP math, dates, and accountability.

Employees, customers, and investors deserve nothing less.

C-Suite. KARMA for selling off D/FW FiOS HQ to inept Frontier out of toilet trash ROCHESTER!

Confirmed with a co-worker that came from a meeting just now that the CMO was cut today (Sashi M). Some people will say this is good, others will say this is bad. Simply calling it out as there was more layoffs today. Not sure if it was just him or if there was additional leaders but more people are gone.

Why is the FBI raiding locations in Dearborn?

Even the market is calling CVE on their desperation to acquire MEG. Can this company do anything right? They overpay and undersell. Do they actively try to lose $$$. No wonder their stock price can’t creep higher than $25. Forever the bottom feeder in the E&P space.

There were high level engineers laid off this week. Does anyone know how many?

Does BofA have these roles? How much does it pay?

11/21

Do not expect severance packages to be as generous as before.

Really sheds a light on how unserious our leadership team has been for the past 5+ years, it's too bad he's going to fire my a-s because this is the first time I've actually heard someone at that level make any sense whatsoever

If you were unlucky enough to get that god-awful “Friday Note” from, you know who, then you’ve already witnessed the nauseating display of wasteful spending happening at headquarters. With threats of massive layoffs hanging over everyone’s heads, right before the holidays, mind you- it’s beyond tone-deaf to flaunt their lavish parties and celebrations.

It’s absolutely deplorable. A disgusting, out-of-touch flex from people who clearly have no clue what it’s like to worry about paying rent/mortgage, feeding their kids, or surviving after Q3 earnings hit and heads start to roll. While the field scrambles to hold everything together, they’re busy partying it up on our dime. I can only imagine the “celebrations” they have on the company dime that they don’t dare share images of.

I’m genuinely embarrassed to be associated with such a shameless and heartless company

I get the feeling that whoever’s making these layoff decisions is just incredibly lazy. Cutting by numbers without any deeper thought, let alone real strategy. My team hasn’t had some roles backfilled since forever, and you can definitely feel it in our performance and workload. I think the company loses far more than it gains by letting people go. Layoffs have turned into nothing more than a performative exercise to prop up the stock.

Is it a coincidence that as soon as Verizon partnered with these two Indian companies everything started getting much worse? Or am I being unfair?

Based on the information gathered regarding Ford's 2025 layoff plan and restructuring efforts, here is a table summarizing the announced and reported cuts by region and function.
| Region/Location | Function/Division | Announced/Reported Number of Cuts | Status / Primary Reason |
|---|---|---|---|
| Europe (Germany - Cologne) | Electric Vehicle (EV) Manufacturing | Up to 1,000 | Confirmed; Due to significantly lower-than-expected EV demand; transitioning to single-shift operation. |
| Europe (Broader) | Various/General Workforce | ~4,000 | Part of a restructuring plan announced earlier (2024), expected to be completed by the end of 2027. |
| North America (US/Canada) | Connected-Vehicle Software Division | ~350 | Confirmed; Part of cuts in the software/tech team. |
| South Africa (Silverton & Struandale) | Manufacturing/Operator Roles | 470 | Confirmed; Due to market conditions and a surge in imported vehicles. |
| Global (Estimated) | Model e (EV Division) | 3,000 – 4,000 | Reported Forecast; Loss-generating and efficiency issues in the EV segment. |
| Global (Estimated) | Ford Pro | 2,000 – 3,000 | Reported Forecast; Redundant layers post-expansion. |
| Global (Estimated) | Legacy North America Operations | 2,000 – 4,000 | Reported Forecast; Part of broader reorganization and cost-cutting (RTO-driven attrition, etc.). |
| North America (Kansas City) | F-150 Truck Production | Thousands (Temporary) | Temporary Layoff; Due to a supply chain disruption (fire at a key aluminum supplier). |
Note on Status:

• The numbers for Europe (Cologne), North America (Software), and South Africa are specific cuts or adjustments officially announced or confirmed.
• The large global numbers (Model e, Ford Pro, Legacy North America Ops) are based on analyst forecasts and reports of Ford's internal restructuring targets (estimated 8,000 to 13,000 total) and are not a final, officially announced company number.
• The Kansas City layoffs were temporary production pauses.

Fiserv may make it. The determing factor not being discussed is that class action lawsuit.

Great to see Queen Kate Publish for her great job she’s done turning Lumen around…. How fitting it was posted on Lay off day. That’s your Marketing at work.

I wonder how many Layoff’s happen at Apple per year and Yet Tim Cook isn’t gloating about the good job he does.

Wellmed - Optum / North Texas Team. 60 people let go at once!

My manager said he cannot afford to lose anyone on his team. No more reqs in the near future and it doesn't look good to have less than eight reports.

Let’s try to keep a list in one place. Based on what people have shared so far, it might actually be easier to point out which orgs seem safe. It’s looking really bad. I’m so sorry we all have to go through this.

Tell these id--ts there’s no sound in the meeting. Seriously, what an awful company.

how are these areas not impacted?

feels like it

I can see the downtown office from my window.
I stared at it all night.
I saw the lights go out.
I saw the lights come back on.
I don't know what today has in store for us.
But if I've learnt anything from life,
This too shall pass.

Amazon is layoff 30k employees. Is Dell following Amazon soon?

Amazon to cut nearly 30K corporate jobs in largest layoff in company history

Interesting !

Amazon plans to cut 30,000 corporate jobs in response to pandemic overhiring https://www.theguardian.com/technology/2025/oct/27/amazon-corporate-jobs-cuts

How soon will Dell use this excuse?

That is all

How is it that someone walked out of P66 is now doing the same to bring his minions in from the same company. Some really solid talent getting out or being walked out.