XEROX LAYS-OFF 2,500 SO IT CAN BUY IRISH BUSINESS SYSTEMS

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XEROX LAYS-OFF 2,500 SO IT CAN BUY IRISH BUSINESS SYSTEMS

 user 2010-01-25 at 11:11:54 am Views: 42
  • #23239

    XEROX REVENUE DOWN ,TO LAY-OFF
    2,500 WORKERS 

    Xerox
    has announced plans to cut 2,500 jobs or 5% of its workforce as part of
    a cost-cutting strategy to save around $200m a year.The company said
    some of the job cuts will occur in Europe without giving an exact
    number. It said the restructuring would cost more than $200m this year
    with $30m related to its $6.4bn acquisition of IT services vendor
    Affiliated Computer Services  The company has cut 3,500 jobs since late
    2008.In September, the company announced plans to acquire ACS to move
    into the growing IT outsourcing business. Earlier this week, the
    European Commission cleared the company to go ahead with the
    acquisition. The company expects to close the deal next month.

    The
    company’s income
    and revenue has been declining in the last few
    quarters. In October, it reported a 52% decline in net income to $129m
    for the third quarter 2009, on revenue down 16% at $3.7bn. The workforce
    reduction could be one way the company is planning to shore up its
    revenues.Xerox quarterly revenues fell 3.4% to $4.22 billion and net
    income was
    $180 million or 20 cents a share. New York – Xerox Corporation revenue
    fell 3.4% and net income
    was $180 million.

    http://www.tradingmarkets.com/news/stock-alert/acs_xrx_xerox-to-cut-2-500-jobs-724852.html

    Xerox acquires Irish Business Systems
    Global
    document management firm Xerox has acquired managed print services
    provider Irish Business Systems (IBS) for about US$31 million (€21
    million).

    The acquisition by Xerox, which employs
    700 people across the Republic and Northern Ireland, is set to expand
    its customer reach across Ireland with access to more than 11,000
    customers across the country, including Dublin, Belfast, Cork, Galway
    and Limerick through IBS offices, of which there are eight in total.

    As
    part of its channel expansion strategy in Europe, this is Xerox’s
    second European acquisition in the last two years and eighth global
    acquisition.IBS, founded in 1972 and headquartered in Cork, sells
    products from another supplier. It will now begin selling Xerox’s range
    of document management products.“With this acquisition, Xerox will
    increase its presence in all parts of Ireland,” said Douraid Zaghouani,
    senior vice-president, European Channels Group, Xerox Europe.“IBS is a
    strong office technology and managed print services provider in Ireland.
    Their extensive distribution and customer support complement the
    benefits of Xerox’s technology and solutions. Together, we strengthen
    the value proposition we bring to small and mid-size businesses as well
    as expanding our managed print services offerings.”

    IBS will
    retain its name and operate as a wholly owned subsidiary of Xerox with
    founder Jerry Carey continuing to head the company while reporting
    directly to Douraid Zaghouani, senior vice-president, European Channels
    Group, Xerox Europe.

    http://www.siliconrepublic.com/news/article/14930/business/xerox-acquires-irish-business-systems