Future is rank for 3,000 Xerox employees

By on
Future is rank for 3,000 Xerox employees

Tech giant Xerox is the latest company to announce large-scale redundancies and blame it on the current economic turmoil.

Despite reporting US$285 million in annual profit, based mainly on sales to emerging markets, poor sales in the US market and gloomy predictions of tougher times ahead have lead the company to announce 3,000 job cuts.

Reading from the same hymn book as every other CEO who has thrown people out of their jobs to protect shareholder dividends in the past few weeks, Xerox Chief Exec Anna Mulcahey said: "We are accelerating actions to reduce our cost base and drive operational improvements across the board, giving us more flexibility in our business in this unpredictable economy."

Xerox joins Yahoo, Micron and Dell which have all announced massive cuts in staff this week.
theinquirer.net (c) 2010 Incisive Media
Tags:

Most Read Articles

You must be a registered member of iTnews to post a comment.
| Register

Poll

How should the costs of Australia's piracy scheme be split?
Rights holders should foot the whole bill
50/50
ISPs should foot the whole bill
Government should chip in a bit
Other
Flash is heading towards its grave, and that's...
Great! Good riddance
Sad! Flash had some good qualities
Irrelevant. I don't care
What's Flash?
View poll archive

Whitepapers from our sponsors

What will the stadium of the future look like?
What will the stadium of the future look like?
New technology adoption is pushing enterprise networks to breaking point
New technology adoption is pushing enterprise networks to breaking point
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
Gartner names IBM a 'Leader' for Disaster Recovery as a Service
The next era of business continuity: Are you ready for an always-on world?
The next era of business continuity: Are you ready for an always-on world?

Log In

Username:
Password:
|  Forgot your password?