Has anyone heard whether contract hiring is frozen? We haven't been able to get a req approved for months. They didn't reject it either - it's just sitting there in the system.
Also it appears that new POs are on hold.
Seems like they're trying to save where they can to make the cash flow look better, even if it means slowing down or stopping important projects.
Xerox on the CHEAP today
You can always count on Xerox to F up anything they touch or try to do.
Ask our vendors, Xerox is known for
“The check is in the mail.”
Nothing new for Xerox to not pay their vendors. They always delay payments at quarter end so they show more cash. Getting tired of having to deal with vendors complaining they are not being paid on time. Then Xerox trying to play stupid that they don't know how it could have happened.
More like tech outhouse
It is clear that Xerox is dealing with cash flow issues.
Looking at 22Q2 financial statements, Xerox could run out of cash before the year end; operating activities are not providing but "burning" cash ($0.7B cash burned out in first six months of 2022, $1.2B remaining).
In the near term - what can be done to fix cash (textbook advices):
Among other things Xerox might be not only "freezing" hirings but also delaying payments to providers (significant increase of accounts payable in the cash flow statement, $172M).
By the way: bankruptcy happens not because you are making losses; it happens because you run out of cash.
Hold on tight!
“This really is not the best resource to inquire about this topic. Inquire with your VP and Sr. VP if needed.”
That’s like asking Moscow how the war is going in Ukraine.
This really is not the best resource to inquire about this topic. Inquire with your VP and Sr. VP if needed.
“Why don't you inquire with the the people in charge of contractor hiring at Xerox.” You really think that avenue and others weren’t tried and fully exhausted already? Lean 6ix Sigma much? Working at x is like movie Cast Away … without the happy ending.
Why don't you inquire with the the people in charge of contractor hiring at Xerox. They probably know more than strangers on a layoff site. I also might suggest searching key words 'hiring', 'contractors' on recent internal departmental correspondence memos.
Just chalk that up to pure Xerox incompetence.