What's your prediction as it relates to the possiblity of Xerox layoffs? Any chatter, news or rumors?
30 replies (most recent on top)
@at no one left in ITS to get rid of, they are jumping ship daily. MG and GD don’t have a clue. Even MG hasn’t read the room after his own email today just pushing sales. Getting desperate
@g3 not true, he’s on long term leave and taking legal advice about dc
With the increase in the Gas prices, poor 'Little Stevie' couldn't afford to run the clown car anymore. Perhaps he was allowed to keep the ho-n for his next chapter of short man syndrome failures.
SteveB gone
2000 people just lost their jobs!
It makes sense that a large layoff action in 1Q will occur to juice up the 1Q reporting. The earlier this occurs, the more runway exists before payroll cannot be met. If I was an evil XRX exec, I would demand a severance policy change in advance of the layoffs to reduce the cost of cutting jobs.
@j2 don’t forget to add on to the do more piece. For morale we will let you dress in pajamas at work to celebrate the holidays and decorate your desk for bragging rights but only decided outside of office hours. This is a real thing at Xerox. Like a grade 1 class. It’s embarrassing.
@g8 those calls astound me, work harder but you aren’t getting increases or extra reward, oh and we are cutting your commissions. And it’s just a boys club with the same old dinosaurs su-king up to DC
@g3 That guy on the call deserves a medal - was only saying what most of the listeners thought anyway.
Makes a change they didn’t have that 🤡 with a 🎸 singing songs again.
Xerox finance go bye bye?
@g2 absolutely nothing. GP phoned him and that was about it. Absolute joke. They don’t even get rid of id--ts like that.
@fv what happened to that guy on the town hall who forgot to mute and said how s**t the call was and dc was going to contact him to get his feedback?
@ff nope. I’ve seen first hand multiple times how not true that is. Especially at the moment.
@ff DC has created a toxic environment in the UK business, blatantly promoting his son on LinkedIn, protecting imbeciles like AR, persecuting the ‘non believers’ of his leadership ( or lack of ).
Still finding reasons to cut our comp, adjusting our targets to suit his narrative.
Goes against the Xerox ‘Ethics Policy’, yet it continues. Hope the new guy makes positive changes for us in 2026.
@f3 I think you will be surprised on the power he has
@f1 that’s my point. He wasn’t at that meeting because he’s been sidelined already. But the original post I was replying to was suggesting DC will protect the people he “likes” in the UK. He won’t because he isn’t in control anymore, or won’t be come January. LEX man is. Even if they haven’t updated systems to officially show it.
@dc why would DC be at a GTM planning meeting when he is no longer GTM? Which LEX is JEG new buddy (or is he now friends with all of them)?
Talk about people dragging their feet and waiting for miracles. You people make it sound like you just realized Xerox was in financial trouble and you will be out of a job. Seriously? News to You?
Wow. Keep coming to work when the place is shutdown, and no paycheck is coming. Because that’s what you always have done. Crazy. Lexmark or not.
What does it take to get through to people. Xerox is gonna leave you.
@cp This is a good perspective for the most part but don't forget that organizational politics also play a huge role in times like this. For example if a manager retired whom was protecting some employees from others those employees are now at risk; and it can be more than just employees it can be entire teams where existing management may not have agreed with a departed manager's team existing due to questioning the point of the team.
For example let's say a retired manager three years ago formed a team to specialized in marketing AI services or products to customers and now management looks at this team and says the team isn't necessary because all sales teams need to be selling these services not a specialized team. So this entire team could be released.
The above is just an business example and there are teams like this exist in all organizations and in different areas; HR (teams focused on recruiting DEI or college students), Finance (teams focused on purchasing foreign securities to protect foreign currency) and other examples.
FYI I generally agree that those whom don't know or have had contact with the CFO in finance are at more risk then those whom haven't. It's a double edge sword but in general it's harder to release staff you know then those whom are just names on a spreadsheet that you never meet unless you have a reason to release those individuals.
CFO from LEX so finance layoffs will probably be from XRX.
@bx It will be a combination of employees from both companies. I don't know what breakdown but I do know Lexmark employees are on the table as much as Xerox. Each round of layoffs are a opportunity for management to reduce those whom they see as low performers or staff that have outlived there political standing.
Will any LEX employees go or is the 20% (I heard that too) all from the Xerox part of the new combined company?
@bd not in the UK, we get protection. And if you are a family member of DC you get extra special protection
Goodwill guy is 100% correct. BTW offshore employees go last because they work for peanuts and it’s not all bad. US XRX legacy go first. That’s me!
Goodwill Guy here.
I think it will be a mass liquidation post CH 11. At this point, the cost of payroll is dwarfed by the outstanding debt.
Look at the proposed $500MM loan on IP. If they get the money, and use it all for payroll, that's divided by 20,000 employees, or ~$25,000 person. If you assume the average salary across the 20K employees is ~$50K, that is about 180 days of payroll. People on the board are wondering if it will be 10%, 20%, 30%? None of those numbers will keep XRX from default or receivership - they are engineering a crash landing.
There is no surviving the 2027-2029 debt maturity walls, so this is all a short term debate, as their fate is sealed. In CH11, employees become creditors, and have to negotiate any monies owed, including their ongoing salaries.
@OP Possibility? Are you f’n kidding? If the SLT weren’t so pathetic they would do 5000 right now to clean up 2026. We are done by June.
February 15, 2026 is the first round with one round per quarter for the rest of the year if things don't turn around. Across the board in all areas and majority in middle to lower layers of staffing. Since there will be no quick turn around for Xerox I suspect that by this time next year the question will be if layoffs will continue into 2027 or if enough blood has been shed.
I predict lay offs will occur 1Q 2027 and/or something dramatic will start happening like filling Chapter 11 or Sale of something. There is only so much cutting employees can do to save expenses and cutting employees also makes it harder for a company to create innovative products, serve customers and grow.
HR are already prepping for 20% (or more) cuts to most departments and teams. Some managers already been told, a lot haven’t. Unsure of exact timing but I suspect mid January. ITS unlikely to be excluded as they are about to miss their Q4 revenue and profit numbers so will have to share the pain.
That won't happen because that would be the smart thing to do
HCL offshore teams are the first to go. We've lost too many customers because of them.