Xerox to take $625 million write-of and eliminate 5,200 jobs

Article Abstract:

Xerox Corp. will cut about 5 percent of its worldwide workforce and outsource some manufacturing as part of a major restructuring aimed at refocusing the firm's core business functions and reenforcing areas of strong growth. The move comes as the firm has been plagued by weak sales in the face of savage competition in printers and lower-end copiers. In addition the firm badly upset customers when its consolidation of back-office operations resulted last year in backlogs and billing problems, as well as chaos for sales reps who have tried to become familiar with new accounts.

Economic policy, Computer supply, Computer supplies

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The fading copier king; Xerox has failed to capitalize on its own innovations

Article Abstract:

Xerox Corp.'s sales and stock price are down, and its competitors are gaining in the photocopier market. The firm will not seek bankruptcy protection, but instead will rely on a $7 billion line of credit, and may have to shed some assets. The company's problems stem from changes in the printer and copier market, a confusing overhaul of its sales territories, and problems with operators it supplies to help firms run their Docutech machines.

Electronic computers, Prepackaged software, Computers, Electronic Computer Manufacturing, Computer peripheral equipment, not elsewhere classified, Other Computer Peripheral Equipment Manufacturing, Electronic components, not elsewhere classified, Laser Printers, Display Control Mouses, Management, Computer software industry, Software industry, Product development, Microcomputer industry, Digital computers, Computer peripherals industry, Flat panel displays, Flat panel display, Mice (Computer peripherals), Laser printer, Mouse, GUI, Graphical user interfaces

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Seeking core-business survival, Xerox to sell many operations

Article Abstract:

Xerox Corp. reported a $167 mil loss in 3Q 2000, on revenues of $4.46 bil. It plans to sell parts of business units, seeking $2 bil to $4 bil in cash. Xerox will also cut $1 bil in costs, a move that would probably reduce the workforce by 8,000 jobs. Properties on the block include Xerox's finance arm, its China plant, its European paper company, software interests, including ContentGuard and Inxight, its share of the Fuji Xerox venture in Tokyo, part of Xerox PARC and stakes in its inkjet business. Xerox is also reorganizing its corporate reporting structure.

Asset sales & divestitures, Statistical Data Included, Mergers, acquisitions and divestments, Company acquisition/merger

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