Since not enough of you volunteered to ensure that we can continue to receive SLT and EC level bonuses we are gong to let go the volunteers that we determine necessary and e have a separate list that we will be letting people go from. We will be reducing the total headcount by 15%
Don’t worry though we are seeing improved margins and orders coming in form customers. Are marketing efforts are starting to seeped up and take off and the future is bright for those whom are remaining
@13z rescheduled to the 5th
@13v
Is the "all hands on deck" meeting on the 4th or 5th? LP said the 5th.
@vq There is nothing new about LP. He has been around long enough.
@vq it will be interesting to see if admit we need to reduce staff by 20% or more.
@m9 I still think we are a few quarters away for Chapter 11. I think within 30 days of a new CEO is a bit early. I could be wrong but I suspect we are doing everything to prepare for filing but the actual filing isn’t scheduled yet.. I suspect it will be 4Q 2026 or 1Q 2027.
We sill have a the rest of the year to run up the bills and not pay our vendor, and etc.
@m9
Agree with Chapter 11. Starting to make noise with two new partners in play the last two days. This will satisfy the Bankruptcy Judge for now.. Possibly file on Friday to let the dust settle over the weekend.
I was IRIF'ed about a year ago for pushing back one of SB's stupid ideas. The week before I was told I was a critical member of the team. I really enjoy reading the earnings releases now. The several nitwits that arranged my IRIF are all gone too...
Work harder. It's your fault the brilliance of reinvention was not monetized. Our strategies were flawless. SB is spending more time with family. Synergies and headwinds. Important to compensate senior management until we run out of money in
June.
If you want a real meeting, join the actual earnings call of the 30th. The internal one is just cool aid
CH11. It will be CH11, and layoffs.
It will just be the usual… LP is now CEO, we are doing more reorganisation, there will be more layoffs, but… be fast, drive revenue, cut costs… same old same old.
@k3 What could you say with 30 minutes
- We are up for sell or we sold off a segment of the company.
- We are broke and losing money each day we need to cut cost and reduce our workforce by 15-25%
- Someone bought our entire company (I would suspect a Private Equity company - that will just wait 45-60 days to complete action items #1 and #2).
Somehow I think it’s a combination of #1 and #2 but don’t want to rule out a long short positive news.
30 min. is so short. Just rehash numbers. It could secretly be a recording anyway, rebroadcast after young ceo has edited to perfection.
@ek More like Day of the Dead moved to May.
May the 4th be you. Layoffs, there will be...
Those who chose to self volunteer for VRIF should have only done so in an informed way in regards to severance. There is a corporate policy and they should have looked it up. Those posting misleading messages on this feed in regards to this topic are either uniformed AI, competitors or lazy employees not interested in looking at the corporate policy.
Color yourself gone.
No chance of repairing this garbage scow.
Hand in your keys 🔑 to the few that have company vans and cars.
Time to call it a career here.
Staying here is like working at Photomat
No one buys film anymore and even
Less need there camera serviced.
It’s time people …
May the 4th be with you!
Possible Talking Points:
Q1 results are not as strong as we hoped for as we faced unforseen headwinds, but leadership is extremely optimistic and committed to our direction moving forward.
Our newly announced leadership and organizational changes will ensure success on our path forward.
In our efforts to right-size our labor structure, we received "X" number of voluntary RIF self nominations. These self nominations will be a critical part of our 15% total reduction in workforce goals by end of Q2.
For those whose nominations are accepted, they will receive severance as disclosed to them. For those who who did not self nominate, and are involuntarily separated by end of Q2, they will receive the minimum severance mandated by local country laws. (for the US this likely means no more severence)
We know these are difficult times and we need to make difficult decisions. We ask that you continue taking advantage of every opportunity to learn and enhance your skills that will enable both personal growth and positive contributions to Xerox.
JB will want to know why we shareholders all voted no for him
Never you mind why we are having an all company meeting.
You ask
Many questions…..
Didn’t they say that in the “Time Machine?”
Don’t worry ….nothing to see here folks…. Move along now ….