Enough with the "Reinvention".
Enough with the Lexmark fairytales.
Enough with the earnings call word salad.
This is what a REAL CEO — one with a spine and a strategy — would do the second the bullsh*t stops:
- Ki-l the Lexmark deal. Immediately.
No more billion-dollar fantasy buys funded by debt with 13% interest.
You don’t add weight to a sinking ship, you throw it overboard.
- Cut global headcount by 30% (5,000 employees).
This is not about "right-sizing", but about surviving.
Legacy overhead for a dying print business? Gone.
- Sell or spin off XFS — use proceeds to pay down debt.
It’s our only clean, monetizable asset.
Sell it.
Live to fight another day.
- Cancel all non-core projects.
“Digital Transformation”, “AI”, "RPA", "IDP", "Augmented Reality", BS in general… shut it all down.
If it doesn’t print cash now, it dies today.
- Fire the legacy board, form a war cabinet.
Replace deadweight directors with turnaround as-----ns: operators, activists, and a restructuring vet.
No more corporate karaoke sessions.
- Reset guidance. Brutally.
We stop lying to the street.
Publish real free cash flow targets.
Ki-l “adjusted” EBITDA nonsense.
If we’re bleeding, we say it.
Then fix it.
- Shift to Government and critical infra contracts.
If it’s not a secure, long-term contract that pays in real dollars, we don’t chase it.
Pivot the field teams.
Hunt where the money is.
This is the turnaround Xerox needs.
Not another deck, not another "Reinvention fireside chat", not another delusional CEO, detached from reality, only thinking about his next raise.
What Xerox needs now is a CEO who walks in, slashes the bullsh*t at the knees, and says:
“We are either going to shrink fast and live — or keep pretending and die.”
And judging by Q1 bloodbath, we’ve got one quarter left to decide.