XEROX CUTS 2,500 U.S. JOBS SO IT CAN OUTSOURCE TO INDIA

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http://hosted.ap.org/dynamic/stories/U/US_EARNS_XEROX?SITE=NCASH&SECTION=HOME&TEMPLATE=DEFAULT
XEROX CUTS 2,500 U.S. JOBS SO IT CAN OUTSOURCE TO INDIA
NEW
YORK — Xerox says it will cut 2,500 jobs as it takes advantage of
cost-saving opportunities from its $6 billion acquisition this year of
of outsourcer Affiliated Computer Services.The cuts would amount to
about 2 percent of the company’s 133,000 total work force.The move comes
as Xerox is reporting that it doubled its profit in the third quarter,
helped by surging demand for its copying equipment and growth in service
contracts.It earned $250 million, or 17 cents a share, for the quarter,
compared with $123 million, or 14 cents a share, a year ago.Revenue
rose 48 percent to $5.43 billion, helped mainly by the acquisition of
ACS. Had results from ACS been included in last year’s third quarter,
revenue this year would show a 2 percent increase.

NEW YORK  –
Xerox said Thursday it doubled its profit in the third quarter, helped
by surging demand for its copying equipment and double-digit growth in
service contracts.The company also continued to benefit from its $6
billion acquisition of outsourcer Affiliated Computer Services, which
was completed in February.

Signings for service contracts jumped 26 percent.
Xerox
has been transforming itself through its ACS acquisition, taking
advantage of the trend by companies to spend more on technology as the
economy slowly recovers. Other tech companies, such as IBM Corp., have
been similarly shifting their focus toward services.The Norwalk, Conn.,
company says that based on its momentum, it’s raising its outlook for
both this year and 2011. It also says it expects 2010 restructuring
charges to come in $120 million above its prior estimates.

http://www.thehindubusinessline.com/blnus/15201911.htm
Xerox unveils three research projects with Indian institutes
MUMBAI:
Xerox Corporation on Wednessay said its India Innovation Hub has
launched three new projects in partnership with three Indian institutes
—— IIT-Bombay, IIT-Kharagpur and Srishti International Labs.The projects
are aimed at exploring how new online techniques such as crowd sourcing
can play a role in collaborative research and open innovation.“The new
projects will explore various new concepts of collaborative work,
through on—line platforms, social networking and crowdsourcing,” Xerox
India Innovation Hub Director Meera Sampath said. However, the company
has not disclosed the financial detai ls of the three projects.With the
launch of the new initiatives, the India Innovation Hub has six
partnerships with leading academic and research institutions in India,
including the Indian Institute of Technology , Madras, the Indian
Institute of Science and the Indian Institut e of Technology Madras’
Rural Technology Business Incubator.

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October 27, 2010 at 7:58 AM