You are here
Xerox begins layoffs in latest restructuring News 

Xerox begins layoffs in latest restructuring

Xerox Corp. announced it has begun notifying employees of its previously announced workforce reduction, as outlined in its “Revinvention” plan. The Rochester Democrat and Chronicle estimates a 15% staff reduction among its 23,000 global workforce. As shared last month, Xerox is implementing a new operating model and streamlining our organizational structure to align with the evolving needs of our clients and... Read More
Xerox going for yet another restructuring News 

Xerox going for yet another restructuring

Now that financial and corporate activist Carl Icahn has sold his stake in the company,  Xerox Holdings Corp. announced a new operating model and organizational structure to further the company’s Reinvention plans. The reinvention will include a projected 15-percent workforce reduction, the company said. “The evolution of Xerox’s Reinvention aligns our resources in three key areas – improvement and stabilization... Read More
PrintWeek: Xerox continues use of Fujifilm printing technology News Partnerships 

PrintWeek: Xerox continues use of Fujifilm printing technology

The U.K.’s PrintWeek reports, that despite the end of the Fuji Xerox joint venture, Xerox will continue to license Fujifilm printing technology through the renewal of its contract with the Japanese manufacturer. The decades-long partnership between the two giants ended in 2019 after investors Carl Icahn and Darwin Deason thwarted Fuji’s plans to acquire the business, but the companies agreed... Read More
After posting declining sales, Xerox announces reinvention plan Earnings reports 

After posting declining sales, Xerox announces reinvention plan

Xerox Holdings Corp. announced its 2023 third-quarter results included revenue of $1.65 billion, down 5.7 percent, but GAAP net income of $49 million, or $0.28 per share, up $432 million or $2.76 per share, year-over-year, respectively. The adjusted net income of $77 million, or $0.46 per share, up $44 million or $0.27 per share, year-over-year, respectively. “Growth in adjusted profit,... Read More
Xerox revenue ticks up slightly Earnings reports 

Xerox revenue ticks up slightly

Xerox Holdings Corp. announced its 2022 fourth-quarter and full-year results and guidance for 2023. For the fourth quarter, the company reported revenue of $1.94 billion, up 9.2 percent year-over-year or up 13.9 percent in constant currency. For the full year, Xerox had revenue of $7.11 billion, up 1.0 percent year-over-year, or up 4.8 percent in constant currency. “Resilient demand and... Read More
Xerox appoints John Bruno as President, COO News 

Xerox appoints John Bruno as President, COO

Xerox Holdings Corp. announced the appointment of John Bruno as President and Chief Operating Officer. Bruno joins the team following Steven Bandrowczak’s promotion to Chief Executive Officer earlier this year. In this role, Bruno will partner closely with the CEO and leadership team to shape the company’s global strategy and will be accountable for operating model advancements to improve company... Read More
Xerox announces lower first-quarter sales Earnings reports News 

Xerox announces lower first-quarter sales

Xerox Holdings Corp. announced first-quarter results, including  $1.67 billion of revenue, down 2.5 percent year-over-year and a GAAP (loss) earnings per share (EPS) of $(0.38), down $0.56 year-over-year, and adjusted (loss) per share of $(0.12), down $0.34 year-over-year. “Revenue was in line with expectations this quarter despite an increasingly volatile operating environment,” said John Visentin, Xerox Vice Chairman and CEO. “Underlying... Read More
Xerox reports fourth-quarter revenue down 7.9 percent Earnings reports 

Xerox reports fourth-quarter revenue down 7.9 percent

Xerox Holdings Corp. announced 2021 fourth-quarter and full-year results and guidance for 2022. The company reported $1.78 billion of revenue in Q4, down 7.9 percent year-over-year, or down 7.4 percent in constant currency; $7.04 billion of FY revenue, up 0.2 percent year-over-year, or down 1.4 percent in constant currency. “Our team’s focus and dedication drove improved results in 2021 despite ongoing... Read More
NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf News 

NikkeiAsia: Fuji Business Innovation cutting into ex-partner Xerox’s European turf

NikkeiAisa reports Fuji Business Innovation, Fujifilm Holdings’ office-equipment subsidiary formerly known as Fuji Xerox, is now directly competing with former partner Xerox in Europe, following the dissolution of the pair’s long-standing joint venture last year. Nikkei has learned Fuji Business Innovation will introduce large commercial printers under its own brand in Germany, Spain, Italy, and Portugal, using Fujifilm Holdings’ sales infrastructure.... Read More
Xerox reports second-quarter revenue up 22.4 percent Earnings reports 

Xerox reports second-quarter revenue up 22.4 percent

Xerox Corp. reported second-quarter revenue was up 22.4 percent to $1.79 billion and GAAP earnings per share (EPS) of $0.46, up from $0.15 year-over-year, and adjusted EPS of $0.47, up $0.32 year-over-year. “We saw growing demand for our products and services in the second quarter. Increased equipment sales and print volumes in many regions are consistent with a continuing, gradual... Read More
Industry Notes for the week of Dec. 12 Events News People on the Move Updates 

Industry Notes for the week of Dec. 12

  Pro Photography Lifetouch reducing staff by 100 at Ontario, Ohio church directory plant  Lifetouch notified the State of Ohio the company will reduce permanently reduce staff by 100 persons by February 2021, at its Ontario, Ohio facility. The Shutterfly Lifetouch Church Business operations were severely impacted by COVID-19, the company said in a letter to the Ohio Department of Jobs... Read More
Xerox debuts new print products, including three printers New Products 

Xerox debuts new print products, including three printers

Xerox Holdings Corp. announced new presses, technology enhancements for existing printers as well as AI and automation features. The announcements included: A color accelerator module for Baltoro, expanding inkjet applications and adding ink-saving automation Addition of fluorescent pink to the Iridesse Production Press, enhancing its metallics, white and clear color palette Three new printers in the VersaLink and Versant family capable... Read More
Xerox reports 19 percent drop in third-quarter revenue Earnings reports 

Xerox reports 19 percent drop in third-quarter revenue

Xerox Holdings Corp. announced its third-quarter 2020 revenue of $1.77 billion, down 18.9 percent year-over-year or 19.7 percent in constant currency and up $302 million from the second quarter. Operating cash flow from continuing operations was $106 million, down $242 million year-over-year and up $72 million from the second quarter. “The flexibility and financial discipline we have built in our... Read More
Xerox reports second-quarter revenue drops 35.3 percent Earnings reports News 

Xerox reports second-quarter revenue drops 35.3 percent

Xerox Holdings Corp. reported second-quarter revenue of $1.47 billion, a decrease of 35.3 percent year-over-year. The company also reported $34 million of operating cash flow from continuing operations, down $242 million year-over-year, and $15 million of free cash flow, down $245 million year-over-year. “I am proud of our employees who did what was necessary during this unprecedented disruption to support our business... Read More
Xerox reports lower first-quarter sales Earnings reports 

Xerox reports lower first-quarter sales

Xerox Holdings Corp. reported first-quarter revenue dropped 14.7 percent to $1.86 billion, with cash flow dropping to $173 million of operating cash flow from continuing operations, down $49 million year-over-year, and $150 million of free cash flow, down $57 million year-over-year. “During this unprecedented time, we are committed to doing everything in our power to protect our employees, customers, partners... Read More