Xerox CEO: Get Me 3,000 Copies of This Pink Slip, Pronto
by John Paczkowski
Posted on October 24, 2008 at 11:26 AM PT
The worsening econalypse is inspiring worker reductions and other cost-cutting moves across the tech industry. The latest company to take a hatchet to its operating costs: Xerox (XRX), which plans to sack five percent of its workforce, or about 3,000 jobs, in an effort to cope with an “unpredictable economy.”
We’re assuming more of the same … deterioration in the economic markets,” Xerox CEO Anne Mulcahy said on a conference call with analysts. “That’s why we’re being so aggressive in terms of the cost reductions, so we can be assured of delivering the earnings growth that we expect in 2009.”
[Image Credit: The Great Copy Machine Epidemic]
Comments
econalypse: Your word’s not really catching on.
Posted by Jan Gregory at October 24th, 2008 at 3:35 pmWell, you just used it. That’s a start, right?
Posted by John Paczkowski at October 25th, 2008 at 5:25 pm