Xerox has become the latest technology heavyweight to issue a major round of layoffs.
The company revealed on Thursday that the sagging economy has forced the company into a reorganization plan which could see some three thousand jobs eliminated. Such a cut would remove five per cent of Xerox's total staff.
News of the cuts came as the company revealed its quarterly earnings report. The company managed to pull in a $258 million profit with help from a surge in sales to developing countries.
However, sales in the US took a hit and as the economic downturn continues, the company expects its numbers to follow suit.
"The resulting shift in revenue mix does put pressure on our gross margin," said Xerox chairman and chief executive Anne Mulcahy.
"To better align our operations with these changes, we’re accelerating actions to reduce our cost base and drive operational improvements across the board, giving us more flexibility in our business and in this unpredictable economy."
News of Xerox's cuts comes in the wake of an announcement from Yahoo that its own economic worries have lead to the need to cut some 1,500 layoffs. Earlier this month, chipmaker Micron revealed that it would be cutting roughly 3,000 jobs.
Earlier this week Michael Dell said that his company was nearing the end of its massive 9,000-person layoff campaign.
The company revealed on Thursday that the sagging economy has forced the company into a reorganization plan which could see some three thousand jobs eliminated. Such a cut would remove five per cent of Xerox's total staff.
News of the cuts came as the company revealed its quarterly earnings report. The company managed to pull in a $258 million profit with help from a surge in sales to developing countries.
However, sales in the US took a hit and as the economic downturn continues, the company expects its numbers to follow suit.
"The resulting shift in revenue mix does put pressure on our gross margin," said Xerox chairman and chief executive Anne Mulcahy.
"To better align our operations with these changes, we’re accelerating actions to reduce our cost base and drive operational improvements across the board, giving us more flexibility in our business and in this unpredictable economy."
News of Xerox's cuts comes in the wake of an announcement from Yahoo that its own economic worries have lead to the need to cut some 1,500 layoffs. Earlier this month, chipmaker Micron revealed that it would be cutting roughly 3,000 jobs.
Earlier this week Michael Dell said that his company was nearing the end of its massive 9,000-person layoff campaign.
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