Anyone think Steve B leaving has anything to do with survey results? Everyone fill the survey out as scathingly as me?
7 replies (most recent on top)
You think they didn't know what we thought before the survey? That's funny...
There is a class action shareholder suit that Xerox lies about their financials. I’m sure Steve B is a liability in many areas.
Without a doubt.
The board’s own pecuniary interests have become a penny stock, so there’s zero upside in protecting Bandy when the cost would be massive if shareholders sued for dereliction.
Even a board can’t just bury results like that when retaining a skeleton workforce of people to keep the lights on depends on at least some degree of trust in senior management.
IMHO, this accelerates the timeline for bankruptcy, as the state of employee satisfaction is clearly way worse than anyone’s the top thought. Their turnaround consultants potentially gave covering confidential assessments of the results. So while it’s not like LP will be able to fix things given the obligations coming due, it at least absolves the board of a potentially catastrophic liability had they done nothing.
@OP no, that was an action to shut people up. They aren't doing anything with that feedback. Never have.
No. Those went straight into the garbage.
@OP you think the employee survey would impact him leaving? Have yo seen the results quarter over quarter for the last two years?
In sales if you don’t produce you are let go. He was more than likely told to step down or we fire you.
Chapter 11 is around the corner for Xerox. It will operated under a different legal name however any expenses (including pensions that are not protected by government) will vanish with the solvency.
It’s a sad time for what was once a great company who is no longer relevant in the industry. The so called reinvention, they can’t compete in the market with the giants in AI, Robotics etc.
Absolutely not