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:
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3 comments:
I'm not worried...Gary, after all, ACS has promised us jobs in a letter they wrote us, right? Now they don't promise that they'll be full time as opposed to part time, they don't promise us what the salaries will be, and the promise is not enforceable as a matter of contract law. But hey we can trust ACS, can't we?
Paul, ACS's job claim never made sense. Pittsburgh's parking assets included a larger system that included several parking garages and LAZ Parking wasn't anticipating creating near as many jobs as ACS is promising the city for a smaller system.
Revenue rose 48 percent to $5.43 billion. Yet Xerox plans to cut 2500 jobs? Ursala Burns said,
"I think that it would be hard for me to say that things aren't looking a little bit better," Who are they looking better for? Maybe better for Burns yearly bonus that adds to her already $9.9 million annual salary? Maybe Ursala Burns can personally explain to the families of the 2500 hundred jobs they are about to cut why her bonus was more important than a family keeping their home. Or a family being able to put a meal on the table. Maybe Ursala Burns can personally explain to the families why the Revenue rose 48 percent to $5.43 BILLION for Xerox and yet this is not enough. Bonus before allowing a family to maintain their job? This mentality is nothing short of a corporate narcissistic psychopaths. Let's ask Burns, Xerox, ACS how "restructuring" includes a $1.9 million dollar cash bonus.
What happened to Corporate Responsibility? Where people come first? Where the core values of a corporation set the standards for humanity? Ethics training that Xerox ACS mandate for their employees has now become hypocritical standard and should be flushed down the toilet.
This is what we can expect from this company for out city's future? If the City County Council thinks for one minute that Xerox ACS is the answer, they need a reality check. They need to do some more research and they need to dig deep into who they are and what they really stand for.
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