Fujifilm Says It Will Cut 10,000 Jobs at Its Xerox Joint Venture

[McFurd]

Fortune - 1/31/2018 - Reuters - Japan’s Fujifilm Holdings said it is cutting 10,000 jobs globally at its joint venture with Xerox Corp (xrx, +3.75%) to cope with a decline in the photocopying business, amid speculation of a new deal between the two companies. Fujifilm owns 75% of the joint venture, called Fuji Xerox, which accounts for nearly half of the Japanese company’s sales and operating profit. Fuji Xerox had over 47,000 employees as of March 2017, according to its website, meaning the job cuts would likely slash its workforce by more than a fifth. Read more @ http://fortune.com/2018/01/31/fujifilm-xerox-job-cuts/