Xerox Plans To Cut More Jobs
The company will eliminate as much as 2% of its workforce
Xerox is planning more job cuts, despite doubling its profits in the third quarter. As WNPR’s Harriet Jones reports, the Norwalk based company will look to eliminate as much as 2 percent of its workforce.
Xerox says it will cut 2,500 jobs over the next year. That’s out of a total workforce of 133,000 people. It’s also on top of another job cut of the same size announced in January of this year. The additional cuts are an effort to make savings as Xerox continues to integrate ACS, the computer services company that it acquired in a six billion dollar deal earlier this year. CEO Ursula Burns says she’s happy with the progress of the integration.
The buyout was part of Xerox’s strategy to move towards providing more office services and document management contracts, shifting the emphasis away from its legacy copier and printer lines. The company made $250 million in the third quarter, or 17 cents a share. Revenue rose 48%, mainly because of the extra business taken on with ACS.
For WNPR, I'm Harriet Jones.
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Greed
Revenue rose 48 percent to $5.43 billion. Yet Xerox plans to cut 2500 jobs? Ursala Burns said,
"I think that it would be hard for me to say that things aren't looking a little bit better," Who are they will be looking better for? Maybe better for Burns yearly bonus that adds to her already $9.9 million annual salary? Maybe Ursala Burns can personally explain to the families of the 2500 hundred jobs they are about to cut why her bonus was more important than a family keeping their home. Or a family being able to put a meal on the table. Maybe Ursala Burns can personally explain to the families why the Revenue rose 48 percent to $5.43 BILLION for Xerox and yet this is not enough. Bonus before allowing a family to maintain their job? This mentality is nothing short of a corporate narcissistic psychopaths. Let's ask Burns, Xerox, ACS how "restructuring" includes a $1.9 million dollar cash bonus.
What happened to Corporate Responsibility? Where people come first? Where the core values of a corporation set the standards for humanity? Ethics trainings that Xerox ACS mandate for their employees have now become hypocritical standard and should be flushed down the toilet.
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