Xerox has underperformed Wall Street’s expectations, citing slacking demand for their products among big businesses worried over recession. I’ve put together some of the basic facts, gleaned from a number of news sources, in one convenient package. Enjoy.
One thing I found interesting: Xerox doesn’t want to say yet how their plans will affect Rochester. Fair enough, and probably expected, but they say they’re waiting to hear about voluntary exits – basically, retirees and people quiting of their own accord – before they make any decisions. Given the fact that they’ve already gotten rid of 600 people thus far this year, wouldn’t they already know about retirements at this point?
Not the best defense, Xerox. And while the D&C seems to want to shine up the story, stating that the company’s profits are up and they outperformed expectations, neither of those two things are true and the comment section is going nuts with the false pretense their reporting creates.