Xerox cuts continue in 4Q

Xerox Corp. plans to take a restructuring charge in the current fourth quarter totaling anywhere between $50 million and $100 million, with the Norwalk-based company not immediately detailing the impact on its workforce.

In the third quarter, Xerox recorded $17 million in severance costs related after it cut 870 jobs, primarily in North America, and was already lined up for an additional $69 million in restructuring charges in the fourth quarter on top of the new actions.

Xerox’s’ worldwide workforce numbers 146,000 people, up more than 6,000 from the end of last year due to the impact of acquisitions.

Xerox earned $288 million on $5.4 billion in revenue in the third quarter, with profits off 12 percent from a year earlier and revenue 3 percent largely due to a 14 percent decline in equipment sales.

“Our third-quarter performance aligns with shifts in our business as services become a larger proportion of our revenue, and reflects the dynamics of a challenging economy that is creating cost pressures for large enterprises and governments,” said CEO Ursula Burns, in a written statement.

“Steady growth in services is consistent with our strategy. Scaling our offerings in business process, IT and document outsourcing gives us a diversified portfolio that helps mitigate declines in equipment sales and supplies. ”¦ We”™re accelerating growth in print-related markets that are expanding, like serving more small and mid-size businesses through indirect channels, and we”™re maintaining our profitable leadership in markets that are contracting.”