Office equipment maker Xerox Corp. said Tuesday it would cut 2,400 jobs, mostly in the U.S., at a cost of up to US$400 million.
The company said a pre-tax charge of US$350 million to $400 million would include severance costs for workforce reductions, as well as US$50 million for facility consolidations and closings.
The job cuts will be made through a combination of voluntary programs and layoffs.
"For Xerox to continue building momentum in this uncertain economy, we need to accelerate our drive to improve efficiency while delivering competitive products and services to our customers," Chairwoman and CEO Anne M. Mulcahy said in a statement.
The Stamford, Conn.-based company said the cuts are part of the its goal of trimming costs by US$1 billion a year.
Some of the cuts are occuring in Xerox's Canadian operation. The company employs about 4,000 people in Canada, including an operation in Ottawa. Spokesman Bill McKee in Stamford said the company has not yet determined how many of the cuts will occur in Canada.
As of the end of September, Xerox's worldwide employment was 69,900, with 40,900 employees in the U.S.
The company said a pre-tax charge of US$350 million to $400 million would include severance costs for workforce reductions, as well as US$50 million for facility consolidations and closings.
The job cuts will be made through a combination of voluntary programs and layoffs.
"For Xerox to continue building momentum in this uncertain economy, we need to accelerate our drive to improve efficiency while delivering competitive products and services to our customers," Chairwoman and CEO Anne M. Mulcahy said in a statement.
The Stamford, Conn.-based company said the cuts are part of the its goal of trimming costs by US$1 billion a year.
Some of the cuts are occuring in Xerox's Canadian operation. The company employs about 4,000 people in Canada, including an operation in Ottawa. Spokesman Bill McKee in Stamford said the company has not yet determined how many of the cuts will occur in Canada.
As of the end of September, Xerox's worldwide employment was 69,900, with 40,900 employees in the U.S.
