Xerox pulls out of SOHO market & shuts inkjet unit
Xerox Corporation has announced that it is pulling out of the Small Office Home Office (SOHO) market, closing its inkjet production unit and cutting around 700 jobs. The move is said to bring the company, which hopes to return to profit this year, over $100 million in savings.
At the US inkjet production unit, 700 of the 1,500 employees will be let go by the end of the year and the company is considering its plans for the approximate 500 staff at its inkjet plant in Ireland.
Chief operating officer, Anne Mulcahy commented: “Xerox’s strategy for the SOHO business was built on projections for rapid growth in inkjet. In just a few months, the market for inkjet has changed dramatically and independent data indicates that the slowdown will continue.”
15-Jun-2001
