Feeds

Xerox to chop 4000 staff after Q4 loss

And HP to lay off 1700

  • alert
  • submit to reddit

Top three mobile application threats

Xerox is to lay off 4000 staff after reporting losses of almost $200 million for Q4.

The printer company said today the jobs, which represent around 4.5 per cent of worldwide staff, would go during the first quarter, with more to follow later in the year.

It recorded a $198 million loss, or a loss of 31 cents per share, compared to a profit of $294 million, or 41 cents, a year earlier. This was its second consecutive quarterly loss. Revenue at the Connecticut-based company slipped 13 per cent to $4.83 billion.

"We are executing every element of our turnaround plan to yield the fundamental changes in our business that will deliver long-term benefits," said Xerox chairman and CEO Paul Allaire.

Allaire said he expected the company to get back into the black in the second half of the year.

Meanwhile, PC giant Hewlett-Packard is to lay off around 1700 staff, or two per cent of its total workforce. The move will affect its sales and marketing division, and is the result of a restructure which has led to job replication, the Californian company said.

HP staff will learn of their fate next month, and will get to apply for other jobs at the company. ®

Related Stories

Xerox mortgages leases for $435 million
Xerox denies bankruptcy story
Xerox patent action over Palm Pilot casts cloud on IPO
World PC market grew less than 15 per cent in 2000
HP slashes Q1 forecasts

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.