About 100 of the 170 employees at the Oklahoma City plant will be laid off and toner manufacturing will cease.
Officials say consumers are using newer equipment that uses different toners and the need for black toner product has decreased.
The Xerox facility broke ground in Oklahoma City 34 years ago.
Couple this with X's announcement last month of 3,000 layoffs globally, and the new plant in Webster and there really isn't any surprise here.
Xerox Reports Third-Quarter 2008 Earnings
(Norwalk, Conn.) -- Xerox Corporation announced third-quarter earnings of 29 cents per share.
Xerox said the profit edged up 2 percent, topping Wall Street's forecast, as sales to smaller businesses helped offset weakness in large U.S. corporations.
-Bigger companies bought less new equipment from the printer and copier maker-
crimping the Norwalk, Conn.-based company's sales growth and causing it to miss the consensus revenue prediction.
Xerox's sales grew just 2 percent, to $4.37 billion, short of the $4.47 billion that analysts polled by Jhomson Reuters were expecting. Sales would have been flat were it not for a weak U.S.
dollar.
Net income was $258 million, or 29 cents per share, a penny per share higher than the average analyst estimate. In the year-ago period, net income was $254 million, or 27 cents per share.
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Customers need cost efficient, and flexable document solutions.
ReplyDeleteExisting printers today have come a long way toward producing a "lights out" high quality, print on anything, any quantity, any stock, mixed stocks, any size, any run length, with automated finishing of all seven document types and subsets with a degree of automation. But, we there yet? I think not. Hopefully, Xerox is not giving up on printer machine development.