Xerox Corp. more than doubled its third–quarter profit as sales of office equipment continued to bounce back and its recent acquisition of outsourcer Affiliated Computer Services (News - Alert) fueled growth in services revenue.
As it looks to wring more cost savings out of the $6 billion ACS deal, Xerox said Thursday it plans to eliminate 2,500 jobs, or about 2 percent of its 133,000–person work force. That's in addition to 2,500 jobs Xerox said it would cut back in January.
The company has been clawing its way back from a dismal 2009, when sluggish business at its customers caused a drop–off in spending on office equipment and supplies.
Xerox CEO Ursula Burns struck a muted note on the pace of recovery, noting that big companies still aren't doing much hiring. Xerox is a fair indicator of white–collar employment, because the more people that its customers employ, the more ink and paper they use.
"I think that it would be hard for me to say that things aren't looking a little bit better," Burns said, but added, "I'm still cautious on the economy."
Sunday, October 24, 2010
ACS Parent Company Plans To Eliminate 2,500 Jobs
ACS is promising to add 200 jobs to the Indianapolis job market if the Indianapolis City-County Council approves Mayor Greg Ballard's plan to lease the city's parking meter assets to the politically-connected company for the next 50 years. This week, ACS's parent company, Xerox Corp., announced plans to eliminate 2,500 jobs within the company as its profits nearly doubled in the most recent quarter, bringing to 5,000 the number of jobs the company says it plans to eliminate this year. The AP reports on the company's job-cutting plans: