Thread regarding Xerox Corp. layoffs

Fuji hasn't bought Xerox because greedy Icahn wants more money than they originally asked for. That's why he blocked the sale and that's why he's tearing it apart.

I don't understand why Fuji just didn't buy Xerox. They could have purchased all outstanding shares for under 5 billion last quarter

I just truly hate to see how people in the states are losing their jobs, after years of hard work and commitment and are just getting replaced with Low cheap end performance workers As we have proven that have frustrated sales reps due to their lack of understanding and support not to name the amount of clients that feel frustrated for dealing with these people whom can barely communicate properly to deliver a message at times. Yet the investment is there and it would help to guarantee local employees instead of splurring out in projects offshores like these that are presented by id--ts in management that have been left lose to present them as successful enough to keep them going. 68

As a follow-up to my comments below, when you think about the future of Xerox, you must think about it from the perspective of Icahn/Visentin who are focused on selling Xerox to the highest bidder.

Offshoring jobs have nothing to do with costs, although it is a nice side benefit. The goal is to quickly convert these jobs to contractor positions. Why? Because it makes it cleaner for whoever buys the company to take over all the back-office administrative functions in one fell swoop.

Let's say HP purchases Xerox. HP has a backend administrative support system of their own, and they want to leverage those synergies to maximize profit. Firing US workers is messy and challenging. But, if you have offshore contract workers, all it takes is a phone call and that part of the process is done. This adds value to Xerox/Icahn.

What does HP want? Xerox's MPS contracts, XBS Sales Reps and access to the A3 SMB market. What doesn't it want? Bloated backend administrative supports structures, archaic IT systems, etc.

Everything is being done for a purpose: Sell to HP (or FujiXerox as plan B at a higher price than what was offered last year)

Isn’t sales supported offshore? Will sales do back office as well?

That's if anyone is left in 12 months. They are going to start rebadging soon and outsourcing our jobs except for sales.

@XKOdUn6-2rvu - Cutting costs does not create revenue. Revenue is created by selling more. Xerox hasn't sold more in 10+ years. The cost-cutting is to drive cash and profit, to make the company appear healthy from a profit generation standpoint, so it will look even better to a buyer. Companies buy companies so they can leverage common synergies and increase profit even further. No company looking to buy Xerox is concerned about the growth of revenue. Profit is what makes a company appealing, and that is why all the cuts are happening.

That is why the stock is going up. As investors see the successful reduction in costs, they know increased profit will be the result, and that will drive the price to buy Xerox higher. It has very little, if anything, to do with revenue.

The stock price is going up because Icahn and John V know exactly what they are doing. The end goal is not to create a Technology Powerhouse, that is a narrative for internal employees in an effort to have us stick around.

The goal is to sell Xerox to the highest bidder. Increasing profit/cash accomplishes that goal.

We'll all be working for HP or Fuji within 12 months.

I don’t get it either. This company couldn’t be more public about actual issues as much as this page and latest articles with Fuji attempt to undo the lawsuit and avoiding to pay back. How could a company have any value after this? Don’t they see revenue is a cause of these sudden cuts.. not because of massive success?

What I don't understand is why the rest of the shareholders are not waking up given the following issues:

• The $40/share that Johnny Vas---ne/Icahn's analyst came up with was wrong and filled with basic math errors that both John and the analyst recognized after Xerox Corp FP&A pointed them. After these corrections, their model resulted into a ~$32/ share which is lower than the stock price after the FX announcement.
• They came in thinking they will quickly sell the company - remember the 90 days auction? That was their true intention until they realized it was not feasible (lack of buyers, FX complexity/dependency much greater than they had understood, etc.)
• They also assumed they'd found some hidden jewels that XRX people were too stupid to commercialize. After several months, they've come up with Docushare and XMPie...
• What is good for Icahn is not necessarily the same as what is good for the rest of XRX shareholders. For example, selling some XRX assets to other Icahn's parties might generate significant value for Icahn but destroy value for the other shareholders. Icahn is working with a much bigger pie than little XRX alone

• Given the above issues, the crack mgt team is left with few levers to drive short term stock price and develop a plan 'B' to give Icahn an exit strategy - aggressive cost cutting that will destroy long-term value/future but will make the company more attractive for a quick sale and a lot of BS ('Tech Powerhouse').

This is the real story that the main media should go after or that the other shareholders should use for a lawsuit. These shareholders are not getting the true story from Icahn's controlled board. In the meantime, sell your stock while it is >$30 and go work somewhere else. I did both - best decision of my life! Good luck to all of the talented, hard working and loyal employees still there - you deserve so much more.

Get a grip. "You're only a victim if you allow yourself to be" People appear to come to this site only to b_tch about how they are a victim and Carl Icahn is a villain.

Wake up people! Xerox has been shrinking every year over over a decade. Revenue is DOWN 45% over the last 10 years. Did you really think Ursula was going to save the ship?

Welcome to capitalist America where winners win and losers whine. This ship was sinking faster than Jacobson's integrity, and here's hoping Icahn and company can fix it up to find a buyer who will actually do something with it.

NEWS FLASH: Xerox doesn't make anything anymore. We are a sales distribution and service company. Icahn is trying to make an archaic operational organization more appealing for a buyer.

Sorry that a successful capitalist purchased a controlling share. There were NO LAWS broken.

You live in the MOST PROSPEROUS nation in the world. Unemployment is at a 17 year low. We haven't become Venezuela yet.

I apologize if the TRUTH has you triggered.

As others said, no laws being broken here. Immoral and uncaring? Maybe. But this why completely free markets don't work. Icahn can get richer at the expense of tens of thousands of people's lives. TWA 2.0. Icahn brings his people in and disassembles everything. Look at Louie Pastor's resume. He's worked at several Icahn investments. Blow it up, move to the next.

It's called capitalism. If you don't like it, try moving to Venezuela. As for this former xeroid, I added Icahn Enterprises to my portfolio. BTW, I sleep like a baby with the cash that's rolling in.

Believe me, all global cores are aware, we are no fools, they cut our 401k match, now no more raises, close all sales offices but little do they no people are ready to walk in a heartbeat, we know how to play the game too, haha

I've thought about this as well. I only wish there was a way to alert all of the XBS cores to this site so at least we have some way of communicating with each other. I know this c-ap is happening across so many locations, but people don't have a way to talk about it. If you know people at other locations, direct them to this site.

As for this being "business as usual", yeah, I guess it is. This is capitalism at its finest. And yes, iCon is friends with Trump. Doesn't make this hurt any less and it doesn't make what he's doing right. Many of us have happily worked for these companies for years only to be blindsided in the last six months by this hostile takeover. All so iCon can have even more money than he already does.

I, too, would like to alert the media. I want this bhole exposed.

Whoosh!

Thanks for your input. You are obviously ok with business as usual as long as it doesn't affect you. Hopefully you will never know what that is like. Say hello to Mr. Icahn.

Ya'll are delusional.

There are no laws being broken here, there's no secret government conspiracy, this is just business as usual for a well bankrolled corporate raider:

"Descriptions of Carl Icahn range from vulture capitalist to greenmailer. He's been called a gadfly and a shareholder activist. In fact, neither his philosophy nor his strategy has changed much over the past three decades, during which he rose from a stockbroker to one of Wall Street's most influential players." (https://www.investopedia.com/articles/financial-theory/08/carl-icahn-lift.asp)

"not only are his plans ruining the live of thousands of people"

Business as usual, aka "synergy".

"it is going to mean the end of Xerox"

Also business as usual (https://www.stlmag.com/TWA-Death-Of-A-Legend/).

You might as well rage at the ocean for ruining your sand castle.

How did we get where we are today? That's a different discussion. But Icahn isn't the villain here, he's just a carrion bird, doing what he does best.

Now please get back to work.

https://www.youtube.com/watch?v=pnb7WdHEPao

He may have friends in high places, but he needs to be exposed to the world for the criminal that he is. Perhaps the rest of the Xerox shareholders will stand up to the lowlife and put a wrench in his plans. There has to be people out there that see that not only are his plans ruining the live of thousands of people but it is going to mean the end of Xerox. All these cuts may make Xerox look good to buyers now but it will imminently cause its failure to survive.

The current head of the Executive branch of the Federal Goveenment, which has oversight over enforcement of Federal laws and prosecution of acts against those laws, is a close friend and business associate of Mr. Icahn. So, don't hold your breath.

I am sure that the media in Rochester monitors this website.