Xerox Corp to cut 2,500 jobs

[OhioChick]

Source: The Economic Times of India

22 Jan 2010, 0014 hrs IST, AGENCIES

NEW YORK: Xerox Corp said on Thursday it plans to cut some 2,500 jobs, or five percent of its workforce, in a cost-cutting move aimed at saving some 200 million dollars a year.

Xerox, which had 53,600 employees at the end of December, has already slashed 3,500 jobs starting in late 2008.

The latest job cuts were announced by Xerox chief executive Ursula Burns during a presentation of the photocopier company's fourth-quarter results. Burns said some of the job losses would come in Europe but did not give a figure.

She said the restructuring would cost 280 million dollars this year with 30 million dollars related to Xerox's 6.4-billion-dollar acquisition of Affiliated Computer Services, the world's largest diversified business outsourcing firm.



Read more: http://economictimes.indiatimes.com/articleshow/5485998.cms

[sasquatch]

1. Cuts, cuts and more cuts

[ChromeFoundry]

4. and it's not letting up. n/t

[Roadkill]

2. bad times

will this ever end? how much more can we take? My son is an industrial engineer. He was managing production facilities in three states. He was laid off 13 months ago. He's survived by roofing houses, home repair jobs and fixing farm equipment. When the weather turned cold (he's in upstate NY) he's been cutting and selling firewood. Somehow between unemployment and whatever he's survived but I see wife and I helping him keep his house. He split up with his fiancee of over a year because he refused to get married without having a job. I don't think this was the future he/we planned on.

[The2ndWheel]

3. That's the thing about the future

The present comes first.

[dencol]

5. They feed the cycle that is destroying their business. n/t

[blue97keet]

6. Layoffs pay for acquisition of "diversified business outsourcing firm."

Sounds a little fishy like worker replacement.

[Xenotime]

7. Repukes are going to really play into this.

The SOTU speech better be good.