Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Xerox Corp. to Book $115M in Restructuring Charges in 2003
Mar 1, 2003
 Printable format
 Email this Article
 Search

Nearing the end of a lengthy restructuring, Xerox Corp. will book $115 million in restructuring charges in 2003, mostly to account for pension settlements for workers who have left the company, according to a regulatory filing.

The company also said as many as 1,700 of a planned 4,700 job cuts had been completed as of Dec. 31, with most of the remaining cuts expected to be completed by the end of the company's first quarter. The cuts were originally announced in the fourth quarter of 2002.

The charge includes U.S. $90 million for lump-sum cash payments to terminated employees for pension benefits, according to the annual report filed with the Securities and Exchange Commission.
The rest of the $115 million in charges will pay for other severance and cost-cutting moves associated with the company's Xerox Engineering Services business, the filing said.
The Stamford, CT, U.S.-based office-machine maker said it has substantially completed its restructuring that began in early 2000.

In the fourth quarter, Xerox recorded $402 million in restructuring and asset impairment charges for the initiatives.
It ended the year with 67,800 employees. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Oct 22, 2014: Middleby to add U-Line to residential appliance business

Oct 22, 2014: iRobot's 3Q exceeds expectations, driven by Home Robots growth

Oct 22, 2014: Whirlpool Canada named 2014 Energy Star Manufacturer of the Year

Oct 22, 2014: ACCA wants the HVAC manufacturers to develop open, universal communication protocols

Oct 22, 2014: IHA launches website to connect OEMs with consumers

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows