Heard that few executives associated with the top level managements with 15+ years of service (ACS, XEROX and Conduent) are left as of last week. Looks like they might have some insights about what's in pipeline which we don't know yet. Anyway, Don't Panic, Watchout Guys!! If you see something and say something!!
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There is no such thing as easy money at Conduent. There are no bonuses. at Conduent. Its all a sham to get over on the employees and the contractors @house cleaning
House cleaning while the chief in charge brings in his cronies to the highest level jobs at major pay. All from his past - nepotism at its best!
Key Financial Fourth Quarter 2019 Results
Revenue of $1,099 million, down (14.3)% year-over-year.
Adjusted Revenue, excluding divestitures, down (6.7)% year-over-year, or (6.5)% in constant currency.
Q4 2019 GAAP net loss of $(581) million compared to $(140) million in Q4 2018.
Adjusted EBITDA, which excludes the impact of divestitures, was $130 million, down (13.3)% year-over-year. Adjusted EBITDA margin also excluding divestitures, was 11.8%, down (90) bps year-over-year.
Pre-tax income was ($635) million compared to ($143) million in Q4 2018. This includes a goodwill impairment charge of $601 million in Q4 2019.
Diluted EPS from continuing operations was ($2.76) versus ($0.69) in the same period last year.
The Company reported adjusted diluted EPS from continuing operations of $0.18 compared to $0.26 in Q4 2018.
The Company had cash inflow from operations of $348 million during the fourth quarter of 2019 compared to cash inflows of $253 million in Q4 2018.
It's not "house cleaning", it's those who have left having seen the writing on the wall.
They know when they've extracted the EASY $$$ and why hang around when there are
other companies they can go to and do nothing and collect bonus after bonus, stock options
after stock options.
If there is any "house cleaning", it is the U.S. worker getting canned for low cost / low grade foreign slave labor.
House cleaning, maybe more to follow.