Xerox Layoffs

This step by Xerox goes to the heart of the outsourcing debate between President Barack Obama and many more. It involves outsourcing product engineering employees to an offshore company, a skill set often linked to the nation’s innovation capacity. Xerox’s CEO, Ursula Burns, the advisory head of the Obama administration, declared last month in a local newspaper the Democrat and Chronicle. Webster reported that HCL had laid off a small number of staffers. The Xerox-to-HCL job transfers happened at facilities around the country, but as many as 250 are in the Rochester region.

HCL, in regards to the recent layoffs, said by email last month, “it had eliminated some engineering services positions held by former Xerox employees who were transferred to HCL America about a year ago. It is minimal compared to our overall U.S. employee base of about 8,000 and nearly 90,000 global employees.”

Working Environment At Xerox Corporation

  • Xerox Corporation employees generally work 9.1 hrs a day
  • Employees at Xerox Corporation report the work pace is breakneck
  • On a typical day, employees at Xerox Corporation have 4+ meetings
  • 78% of Xerox Corporation employees look forward to interacting with their team every day
  • Xerox Corporation employees most often take 20-30 paid vacation and sick days each year
  • 46% of Xerox Corporation employees report they are happy with their work-life balance
  • Xerox Corporation employees typically get valuable feedback on how to improve at work Once a month
  • 52% of Xerox Corporation employees call their work environment positive

Xerox Announces Layoffs

The Democrat & Chronicle reports that union-represented employees, including manufacturing and production workers, were not affected by the redundancies. HP shares were flat after a reduction of more than 1% after hours on the news, while Xerox shares barely moved after rising more than 5% during regular trading. Xerox company holdings withdrew its tender offer to acquire HP and terminated its proxy solicitation to nominate a group of candidates to HP’s board of directors. The company is closing its Supplies Distribution Center and cutting 42 Xerox Announces 48 Layoffs In Webster best.

Conclusion:

This study explores the reactions of shareholders to layoff announcements. We examine shareholders’ responses to 137 layoff announcements by 57 Canadian firms from January 1989 to August 1992. Shareholders react negatively to notifications of a layoff in their company. Shareholders respond more negatively to a company’s first layoff than to subsequent layoff announcements. Moreover, shareholders react more negatively to large-scale layoffs than those involving small workforce percentages.

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