Yes I know layoffs can still happen with a good quarter but.... LP made it seem like we finally turned a corner and that layoffs may not even be necessary. Well he was just fattening the pig before sla-ghter.
8 replies (most recent on top)
@ay No, you smell disingenuous leadership being called out for their nonsense.
@a4 I smell sour grapes there
Also, looks like an "analyst" was engaged to post favorable articles on LI. Check her stats - she has under 200 connections.
Simple - XRX performed exactly the way is has been. Stock bounced for reasons unrelated to performance and the results were presented in a misleading way. Go on the website and look at proforma results for the real story.
@an
I would have thought that Corporate would have had a breakdown on what they are/were looking for. They could have announced that "we are looking at a reduction of workforce in the neighborhood of 5k employees. We will take the VRIF number, IE- 1500 employees and after that another 3500 IRIF". That way employees had a general idea what was going to happen, none of this " you might get selected" bs.
Just do as you said you were going to do and be TRANSPARENT.
All you have done is put your valued employees on edge(and families) and reduced productivity by a very large %. Maybe an update instead of the "slide show" that meant absolutely nothing.
@OP Xerox still lost $105M in the quarter, has a negative cash flow, still owes $5B, are paying hundreds of million in interest on said money owed. So layoffs in knowing the numbers, should not shock anyone.
Coroner more likely than corner.
There was no corner turned. Remember, he gets paid to be a cheerleader.
The debt is not going away anytime soon, and it appears there is not enough time to get Xerox breathing room. This is kind of like botulism, slow death with blurry vision. The numbers are a blur. It appears the chef (SB) escaped with no poisoning.