As we ring in the new year, it seems a good time to reflect on the big industry changes we saw in 2019:
Xerox and Fujifilm have announced the dissolution of their 57-year joint venture, Fuji Xerox. Xerox has agreed to sell its 25% stake in Fuji Xerox and its 51% stake in Xerox International Partners to the Japanese company for $2.3B. Fujifilm will also drop its $1B lawsuit against Xerox for breach of contract when the $6.1B merger deal dramatically fell apart in 2018.
Union members at Fuji Xerox voted to strike on February 25th and 26th over pay issues and union discrimination. E tu, a New Zealand union representing engineering, printing and manufacturing professionals cites the company’s ongoing failure to address their complaints since August of last year.
2018: The Year of the Shake-Up. As we ring in the new year, it seems a good time to reflect on the big industry changes we saw in 2018:
Xerox cut 900 jobs and reduced severance payments in Q3 as part of ongoing restructuring efforts under Icahn-appointed leadership. In addition to these cuts, Xerox reduced severance in 2018, paying out $40 million in Q3 compared to the $39 million paid for the 600 layoffs in Q3 2017.