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AnonymousInactiveXEROX 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.htmlXerox 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 -
AuthorJanuary 25, 2010 at 11:11 AM
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