Thread regarding Xerox Corp. layoffs

@aj They (business leaders) yap and yap about hardware being important. All the sales numbers they quote are hardware related. New Lexmark into the portfolio is all they are yapping about. New color presses are a big talking point. Yer right, that being a "copier" business is nothing to reinvent. Stop offshoring and turning people that answer phones into bots. It's all going to sh1t

@dc "Xerox has a heritage" and that heritage has many mistakes in it of not capitalizing on inventions. Xerox PARC (Palo Alto Research Center), founded in 1970, revolutionized computing by inventing foundational technologies like the Graphical User Interface (GUI) with mouse, Ethernet networking, laser printing, and the Alto personal computer.

And where is Xerox in any of these inventions.. just printing.

@b7 Stupid is as stupid does, that's what momma always said.

@ae just a sale of country Hicksville. No idea outside the corn fields.

@b8 yes, you should be. Instead you spend your whole time and energy dissing Xerox (even though beyond print you have no idea - couldn’t sell a digital services offering or ITS), not recognize that Xerox has a heritage that should be respected (accepting Xerox is sliding down hill) and making no attempt to integrate. If it’s not LEX your brains can’t handle it

Wow, pretty sad you all have to keep posting so much to try and validate yourselves. Must be tough sticking around that toxic cesspool when they keep crapping all over you.

@bf The fact that the focus is now on integrating Xerox and Lexmark, it is an admission that the reinvention plan that was supposed to bring Xerox to a tech powerhouse has finally ended miserable, drawing Xerox closer to Ch. 11. Yes, they need to carve something out for the wider investor audience. I don't think any of them buy that by the fact that the share price plunge further, pushing Xerox closer to a miserable end.

@b7 stalling the inevitable. Desperation.

@ba Before we know it the wall will fall down from all the ideas they are throwing at it

@b7, they saw another fledgling company and decided to make a deal. They thought that buying lexmark, itsavvy, all these other places, it was strengthening their portfolio to a) get more investors, and then b) eventually sell it off as a whole or in pieces and flip a profit for themselves and investors.

neither of these scenarios are working, so they are just throwing things at the wall at this point.

@aw Were so blessed that the excellent leadership team at Xerox decided to rescue us then.

@av if Lexmark was such a loser why did Xerox buy them and try and to buy them before this purchase? What was the reason Xerox purchasing Lexmark?

@aj If copiers were in such high demand then why reinvent at all, why would Icahn come in in 2022/2023, why is the boat sinking. The reality is that Xerox made the decision to buy Lexmark, they took out the loans and bonds to do it. Lexmark is not to blame for this they are the one being purchased.

@a2 Lexmark wasn't able to survive at all. Everything was clear - knowing numbers (and management choices, attitudes, decisions) you can be sure it was 'written'.

@ae that is a fake reason! Lexmark was loosing money for years. While it was not public during chinese period I know all numbers and backgrounds and I preferred to leave with money instead of loosing everything (money and health). Something very simple happened: 2 companies weren't able to survive and dis whatever possible to delay their end. Chinese were quite foxy to recover something. Lexmark and Xerox earned some months. Investors are the losers as they pushed additional money with no chance to recover

Xerox is filled with managers who contribute zero value to projects and worker bees who are over worked. This placed is being run into the ground.

I just don't understand what we are reinventing. Nothing is ever explained and every memo that comes out is just buzzwords and no meaning.

Why would we reinvent our business? Copiers are what Xerox does. Copiers are in demand, best example being the fact that our company has declined so far that our customers are leaving us for other copier companies because they just want to use a copier.

Be the copier company. There's nothing wrong with that.

If two garbage trucks collide head on. Who is at fault?

@ac we are in good hands then

@ae not economic but LEX still managed to lose $600M !!!

@a3 I agree that Lexmark purchase was a mistake but remember that Lexmark was owned by a Chinese set of companies under major political pressure to sell the company. This wasn’t like many other sales, it was essentially a fire sale due to political reasons not economic.

@a2 I also agree that Lexmark has no responsibility in the downfall of Xerox.

Xerox was in a downfall way before 2023 and before Xerox went on a buying spree of businesses (ITSavy) to rescue a dying business. Purchasing Lexmark has been a desire of Xerox for years and finally came true due to political issues with Lexmark pervious ownership.

Xerox failure to reinvent itself continues to hurt the company and buying Lexmark (looking at short term results if a turn around does occur) was a mistake that added debt and confusion to the business by essentially doubling down on a dying (printing) business.

Xerox would have been better off focused on spending resources on growing ITSavy and other non printing offerings.

I also agree that Ichan action and the money necessary to buy back his share just proves the trouble Xerox was in before buying Lexmark.

Now with all that said we need to look forward. We can either continue to harm ourselves and end up in Chapter 11, we can do our best to reinvent ourselves and still end up in Chapter 11 or reinvent ourselves and decade after decade dig ourselves out of the hole we’re in.

Reinvent ourselves is our best option at the personal level also so that we can be seen as solid people trying to find and deliver solutions instead of depressing ourselves and others.

Future employers also want people whom are solution focused.

@OP our CMO is the best in the industry, he has the best reinvention ideas, was a brilliant sales leader and one of the most inspiring and motivational selfless leaders you will ever meet 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

The executive committee are the kind of people who sit in the conference room and look out the window hoping to see a homeless mans lottery ticket blow away.

@a2 the ship was sinking but Lexmark has added too much weight which means it will sink quicker. If Lex don’t like being bought by Xerox (and so are now Xerox themselves) why did they agree to it or why did so many of the employees not just leave before or leave now?

Don't blame Lexmark for the ship sinking.. the ship was sinking before we came on board. It would have been better if Ichan delt with Xerox when he was around and Lexmark was bought out by anyone else.