The world's largest printing and document services company announced plans to cut 5 percent of its workforce and lowered its forecast for the next quarter.
Describing current economic conditions as a "tough business environment," Xerox CEO Anne Mulcahy said that by trimming 3,000 jobs over the next six months, the company will save $200 million, according to a Reuters report.
Xerox's third-quarter net income was $258 million, or 29 cents per share. But excluding onetime charges and the settlement of tax benefits, the company earned 26 cents per share. Most analysts were expecting profits of … Read more