Xerox reduces North American workforce

Xerox Corp. announced Tuesday that it would be reducing its workforce across North America by more than 2,400 employees over the next three months. Employees in Europe could also potentially face layoffs, as Xerox said reductions there and in other developing markets are “dependent on consultations with workers’ councils and other government policies.”

In a statement issued by the company, Anne Mulcahy, Xerox chairman and chief executive officer, said the move is necessary in order for the company to continue to generate “momentum in this uncertain economy.”

“Today’s difficult economic challenges require difficult decisions,” she said. “To serve Xerox best in the long term, we are further aligning our cost structure with the company’s leaner, faster and more flexible business model. And, we’re doing so in a manner that preserves the strength of our direct sales force and the focus of our research and development investments.”

The company will take a fourth quarter pre-tax charge of between US$350 million and US$400 million as a result of the restructuring. It was not made clear how the layoffs would be split between the Canadian and U.S. offices.

As of last month, Xerox’s worldwide workforce totaled 69,900 employees.

Would you recommend this article?

Share

Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.


Jim Love, Chief Content Officer, IT World Canada

Featured Download

IT World Canada Staff
IT World Canada Staffhttp://www.itworldcanada.com/
The online resource for Canadian Information Technology professionals.

Featured Articles

Cybersecurity in 2024: Priorities and challenges for Canadian organizations 

By Derek Manky As predictions for 2024 point to the continued expansion...

Survey shows generative AI is a top priority for Canadian corporate leaders.

Leaders are devoting significant budget to generative AI for 2024 Canadian corporate...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now