FILE PHOTO: The company logo for Xerox is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid
The printer maker said its plan to simplify its operations would lead to gross savings of at least $640 million in 2019 and $1.5 billion by 2021. Xerox has been exploring options following the termination of a complex deal last year to merge with Fujifilm Holdings Corp after it ran into strong opposition from activist investors Carl Icahn and Darwin Deason.
It brought in 4 percent or about $300 million of Xerox’s total revenue of $7.63 billion in fiscal 2018.
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