XEROX COPES WITH RECESSION ….LAYOFFS POSSIBLE

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XEROX COPES WITH RECESSION ….LAYOFFS POSSIBLE

 user 2009-01-12 at 3:41:43 pm Views: 50
  • #21193

    http://www.13wham.com/news/local/story/Xerox-Copes-With-Recession-Layoffs-Possible/WrpMXNxUHUGnw5h6-KfiEA.cspx
    Xerox Copes With Recession; Layoffs Possible
    (Rochester, N.Y.) – In October Xerox posted a profitable third quarter but announced 3,000 job cuts in anticipation of the economy.President Ursula Burns calls this a pretty tough time for Xerox – -but not a disastrous time.Xerox was one of the first companies to recognize the slumping economy and take steps to deal with it.The company has offered separation packages seeking to trim roughly 5.2 percent of its employees worldwide. If not enough people step forward to reach that goal, some will face layoffs.

    Five percent of the Rochester workforce is roughly 400 jobs.
    Some of those layoffs could come before fourth quarter earnings are announced later this month.Xerox is also reducing its costs by $400 million.  The company is consolidating manufacturing and other real estate.

    In December it moved 200 workers from Linden Oaks Office Park back to Xerox Square downtown ad part of shedding space it leases and moving employees to space it owns.Burns said they anticipated the global downturn very early on, and these cuts already deal with that into consideration.  The company has large cash reserves.CEO Ann Mulcahy is predicting double digit growth in 2009.