Anybody read the tea leaves to predict what Q4 results will do to employment?
I don't expect anything major until the HP thing is done.
9 replies (most recent on top)
: @3epr+13eo28Wv
The bots are what is replacing many of the admin and finance responsibilities.
People come to document, not learn, the processes. Then a programmer trains a bot to do the work.
HCL is one of the leading companies in RPA. Look it up.. you’ll see the humans are staying around until the bots are no longer making significant mistakes.
Per their Webcast: Xerox 2019 Fourth-Quarter and Full-Year Results:
"At the heart of Project Own It is simplification, redesigning seven key areas across the organization so that we can better serve clients, generate savings that can be reinvested in the business and position Xerox for a return to growth. The seven areas of focus we laid out are shared services, procurement, IT, delivery, supply chain, real estate and organizational design."
In 2019, we achieved our target of annual growth savings of $640 million. Due to our disciplined approach to restructuring, we spent approximately $0.35 for every dollar saved. We expect to deliver at least $450 million of additional gross savings in 2020.
For 2020, we expect payments for restructuring of approximately $175 million. Investing cash flow include an acquisition spend of approximately $42 million, including a 3D acquisition at the beginning of 2019 and two tuck-in XBS acquisitions. For 2020, we expect approximately
$100 million of tuck-in acquisitions.
Also, WT_F is this?!
"Our investment initiatives under Project Own It are beginning to take hold as well. For example, we now have nearly 200 bots working across the organization in areas such as order-to-cash, delivery, human resources and finance. We are on track to double that number in 2020."
Source: https://www.news.xerox.com/_gallery/get_file/?file_id=5e2fb4652cfac22cb574645e&ir=1&file_ext=.pdf
Prev comment is roughly right: 2000-4000 is correct based on numbers given to investors. But if “HP thing” happens, expect closer to 9000 Xerox heads to roll with HP control. And, since HP seems to smell the BS (while investors are smoking something) Xerox might cut deeper to attempt to entice the HP board. Seems to be the only strategy that the puppets in the c-suite know how use.
$279 Million spent last year on restructuring, 5,700 jobs were shed during 2019. $175 million stated for 2020 in restructuring (this is per today's conference call with investors. My guess would be between 3000-4000 lost in 2020
They're going to flatten the structure, alright...
RUN don't walk to your next job!
The investor’s package said that they would continue to flatten the structure so I would expect more cuts in middle management.
Project Own it has over $400M slated for 2020, so there will be more cuts.
If the HP deal goes through, there will be a lot more cuts in order to "realize efficiencies" (aka, duplicate jobs cut).
If the HP deal does not go through, there will be even more cuts because we'll be in worse trouble then.
So basically any scenario that happens, expect more cuts.
$500 million more cuts this year, (not including HP merger if happens) so more folks going/outsourced for sure.