Xerox jettisons 400 jobs in the first quarter
April 26, 2019
The OEM has cut 400 jobs in Q1, as well as leaving around 1,100 more positions unfilled.
As ctpost reports, the 1,100 jobs which are currently unoccupied were “opened up” due to “employee attrition.”
As a result, Xerox’s workforce dropped to 30,900 at the close of March 2019.
The company has experienced mixed financial fortunes of late, reporting a decrease in revenue of 9 percent under new CEO John Visentin, but a growth in profits in Q1 2018 to $133 million (€119.4 million).
Xerox forked out $24 million in severance pay from January to March, and has revealed it has “another $74 million (€66.4 million) in restructuring charges budgeted for the coming 12 months.”
Regarding their recently revealed financial results, Visentin sounded an optimistic note despite the mixed report: “We are investing in our core business as well as new technologies that create value for our stakeholders and position us for long-term growth,” he said.
Categories : Around the Industry
