Friday, October 22, 2010

The 3rd quarter Xerox story: Double the Profits, but still cutting jobs

Oct 21 - Xerox said Thursday that it doubled its profit in the third quarter of 2010. The Xerox company reported net income of $250 million for the 3rd quarter, compared with $123 million for the same period last year. As the profit growth is being announced, Xerox is also planning to cut about 2% of its workforce, which amounts to around 2,500 job losses. Why cut jobs when profits are growing? Share your opinion here:

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