Xerox employees are far more likely to be dissatisfied with their jobs than employees at most other major U.S. companies. Frequent employee complaints include stagnant pay and poor management. CEO Ursula Burns, who worked her way up from an intern position with the company 36 years ago and is the first African American woman to lead a Fortune 500 company, is approved of by only 36% of employees.
In addition to low employee morale and a lack of confidence in company leadership among employees, Xerox sales have declined in recent years. Annual revenue is down to $18.0 billion from $19.5 billion the year before and from $20.0 billion in 2013.
Earlier this year, Xerox announced it would split into two distinct companies, one for business processes, including accounting and customer care, and another for document processing. The split is scheduled to be completed by the end of 2016, and has already spurred thousands of layoffs.