XEROX PLANS TO MOVE OUT OF HEADQUARTERS

[Anonymous]

Xerox plans to move out of its headquarters building
STAMFORD,
Conn. — Xerox Corp. plans to vacate its headquarters building and
relocate to a smaller facility within the area, company officials said
Monday.Chief Executive Ann Mulcahy told employees last month about the
plan, said Christa Carone, a company spokeswoman.”It’s a bigger
facility than we currently need and we’d like to get into a space where
we can more effectively showcase our brand,” Carone said.Xerox has
about 300 employees at the Stamford headquarters, down from about 600
six years ago, Carone said. The printer and copier maker has cut
thousands of positions in recent years and introduced numerous new
products to return to profitability.Xerox plans to sell or lease the
building, but would not disclose the asking price. It’s unclear where
the company will relocate, but Carone said it would be in the area.The
move is expected to occur within two years or sooner.Xerox moved its
corporate headquarters from Rochester, N.Y., to Stamford in 1969. The
four-story, 255,000-square-foot building is located on a 25-acre
campus. 

[Author]

November 15, 2006 at 12:40 PM