XEROX COPES WITH RECESSION ….LAYOFFS POSSIBLE

[Anonymous]

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.

[Author]

January 12, 2009 at 3:42 PM