Xerox to Cut 2,400 Jobs
The job cuts represent more than 3 percent of the company's global workforce.Xerox Corp. on Tuesday said it would cut about 2,400 jobs over the next three months and shut down some facilities as part of its initiative to cut about $1 billion in costs. The job cutswhich represent more than 3 percent of its global workforce of 69,900 employeeswill come through a combination of voluntary programs and layoffs in the United States and Canada, said the Stamford, Conn., printer and copier giant. Job cuts in Europe and other countries will depend on the outcome of consultations with workers councils and government policies in those countries, Xerox said.
Xerox will pay a pre-tax fourth-quarter charge of $350 million to $400 million for the restructuring, the company said.