Kodak: Market cap 727 million. 3,700 employees.
Xerox: Market cap 247 million. 16,000 employees.
Is there a “right” layoff number or is this even a factor at this point? What am I missing here?
13 replies (most recent on top)
@a9 Are you sure? I read somewhere it passed. I'll take another look. Enormous focus on executive comp at the shareholders meeting. Talk track was need to keep EC in place to execute reinvention. All except the CFO I guess...
@e9 best I can tell, zero. Layoffs aimed at the legacy XRX side.
Anyone know how many Lexmark employees were impacted?
As of November, the combined companies had 25,500 employees. Not sure what the total is today
@aj This is market capitalization. It's not something you can easily calculate to salaries.. but you could say each employee should be adding roughly $15k to the bottom line or should be reduced.. also bad logic but fun to do.
Ergo, if “X” = excess headcount and “Y” = average salary…. X multiplied by Y = WTF? That can’t be right?
@a6 Steve actually tried to get golden parachutes implemented, it was a voting item for shareholders last year, but was voted down, so they are not in place.
This is public information
We just had a merger. EC will take way too long to get to the right size workforce. They F up everything. HC is based on process efficiency not market cap so we will we need more than average due to terrible work flow.
16,000 employees.
15,999 lay offs.
1 golden parachute 🪂
@a3 it's not, but it is telling, and kind of insane. You would usually look at profit or earnings per employee, but that is a negative number, so not a great metric.
@a1 Is that the typical metric or is it revenue per employee?
@a1 agreed it’s like 27k. There should only be around 8000 people in Xerox - and that is probably still too much - too many layers in. XRX.
That number is way off. Add Lexmark, and we're closer to 27K. Things are actually a lot worse than you think they are. If you divide the head count into the cap, you get a little under $10K per person.