It’s gone from bad to worse with companies laying off employees since Obama’s ‘victory’ and America’s defeat last week. Now Xerox is planning to lay off 2,500 workers. And, Xerox’s fourth quarter earnings are expected to be down 20% from it’s third quarter earnings. Welcome to ObamaVille.
The majority of cuts will be in the service side of the Xerox business, despite a growth in this section for the company. Services now account for more than half of Xerox’s revenue.
Employment in Rochester is primarily centered on the technology side of the business, or the company’s legacy side, Xeroc officials say. No details have been released on the impact of any reductions in the Rochester area.