Xerox Corporation

The main issue Xerox has is poor human resources which cause lots of their talented employee to leave to another company. The one who stayed did a poor job of completing their tasks. Xerox is unable to bring in new technologies to the market so they start to lose their market leadership in photocopiers to canon. Rick Thoman was the CEO of Xerox in 1999 and he fixed a lot of problems but Barry Romeril the chief financial officer done a bad job of overseeing corporate finances. He writes off a $119 million from a subsidiary with only $400 million in revenue and exposed the company to the turbulent Brazilian economy by failing to hedges against currency exchange rates. Thoman wants Romeril fired but he’s an old friend of Allaire and Allaire doesn’t want him fired. Allaire hired lots of people that are related to him. The poor human resources cause the company to face bankruptcy. I think that Xerox should hire the people that are suitable for the jobs and not just hire someone you know.