Getting smaller and smaller - Senior Software Engineer Xerox Employee Review

There's still too much of an "old boy" network going on. People are made managers just because and without looking to see if they are good at managing people. Upper managers like to work with blinders on; they don't want to hear any bad news. Xerox has at least 2 layoffs per year. When I started there were 100,000+ people, now they are down to about 55,000. How much farther will it go?