Xerox Corporation at a Glance

Uppers

  • One of the most recognizable names in the business world
  • Solid benefits package and competitive pay
  • Plenty of opportunities for employees to advance

Downers

  • Several layoffs in the last three years
  • Doubts persist about Xerox's ability to compete in the changing world of technology
  • Because of its size, it can be easy for employees to get lost in the crowd

The Bottom Line

  • Xerox retains a strong brand identity, and working at this company is a nice addition to job hunters' résumés.

About Xerox Corporation

Today's Xerox Corp. is not a copy of its former self. The company, whose name became a verb for making paper copies, cleaved itself in two at the end of 2016. Xerox claimed document technology and related services while spinning off business process outsourcing to a new company, Conduent. With some 1.5 million devices under its management, Xerox remains a leading seller of printers and copiers as well as technology for managing documents and other information services. The company aims to sell its extended portfolio of digital, cloud-based, automated, and security-conscious products and services to its installed base of customers and new ones. About 60% of Xerox's revenue comes from the US.

Change in Company Type

After splitting into two companies, Xerox began to streamline operations, intensify focus on its products and markets, and make better use of resources. It expects to save $1.5 billion over three years in efficiency improvements and reduced costs.

Operations

Xerox Corp. operates in two segments, Document Technology and Services.

Document Technology, accounting for more than 60% of revenue, sells Xerox's mid-range products (about 60% of segment revenue), small and mid-sized business offerings (about 20%), and high-end products for graphic communications and large clients (about 25%).

The Services segment, generating about a third of revenue, includes its legacy Document Outsourcing business as well as a set of communications and marketing products and services that had been part of the business process outsourcing (BPO) business and were transferred to Xerox upon the company breakup.

Geographic Reach

Xerox Corp. operates in more than 160 countries, with about 60% of sales coming from the US, and about 30% from Europe. The company has primary facilities in Canada, France, India, Ireland, Jamaica, Guatemala, Mexico, the Netherlands, Philippines, Romania, the UK, and the US.

The company outsources a significant amount of its manufacturing to third parties while maintaining its own production facilities in the US, Ireland, France, and the Netherlands.

Sales and Marketing

Xerox Corp. markets its products and services by geography, sales channel type, and line of business. It complements its global sales team and sales website with a network of third-party sales channels, such as independent agents, dealers, value-added resellers, and systems integrators. Xerox customers are in a wide range of businesses that include banking, education, government, healthcare, manufacturing, and retail.

Financial Performance

Xerox Corp.'s revenue in 2015 was $18 billion (counting revenue from operations that became part of Conduent) and $10.8 billion (not counting Conduent operations) in 2016. Net income was $474 million in 2015 and a net loss of $477 million in 2016. Cash flow from operations was $1.7 billion in 2015 and $1.1 billion in 2016.

In reporting its financials for 2016 and 2015, Xerox Corp. took into account only its post-separation operations, which did not include contributions from Conduent. It backtracked and eliminated Conduent operations from 2015 results to show a like-to-like comparison.

Xerox reported revenue of $10.8 billion in 2016, down 6% from 2015. Equipment sales dropped 9% in 2016 because of lower sales of entry and mid-range products stemming from the timing of product launches, as well as lower OEM sales. The decline was also partially driven by lower sales in the developing markets, along with lower revenue from the company's high-end products, and lower sales to partner Fuji Xerox. The company also saw a decline in annuity/post-sale revenue because of lower sales for maintenance services, supplies, and financing.

Xerox reported a $477 million net loss in 2016, a reversal from its $474 million profit in 2015. An increase in restructuring and related costs in 2016 helped drive the company to a loss.

Cash flow from operations dropped to $1.02 billion in 2016 from $1.08 million in 2015 because of lower earnings.

Strategy

If Xerox were a start-up company, its strategy might be called a pivot -- turning away from a defining, but fading, business to a different business that has more perceived upside. While documents remain a key Xerox component, it is shifting to services in a big way. About 75% of Xerox's revenue comes from what it calls post-sales, which is revenue that follows the sale of equipment. Post-sale sources of revenue include document services, equipment maintenance services, consumable supplies and financing, and other elements.

As a large, well-established company, Xerox has challenges in trying to change. Sometimes large organizations are unable to adapt quickly enough to changing markets and customer preferences? But it also has a big advantage: a large base of customers and more than 1.5 million Xerox-managed devices serving businesses throughout the world. The company seeks to exploit that resource to sell new products and expanded services.

With new products, Xerox is targeting what it believes are growth areas, which include document outsourcing and the subcategory of managed print services in the small and medium business market. The company emphasizes the medium-business sector with a range of products.

In 2016, Xerox added two new inkjet presses to its portfolio, the cut-sheet Brenva HD and the continuous-speed Trivor 2400, as well at ConnectKey-enabled i-Series multifunction printers, which are equipped with ready-to-use apps, which are available from the Xerox App Gallery. Xerox has what it called the biggest product launch in its history in 2017, rolling out nearly 30 ConnectKey-enabled printers and multifunction devices with cloud connectivity and access to more features and apps.

Xerox is targeting costs as well as developing and introducing new products. In 2016, Xerox started a three-year Strategic Transformation program to accelerate cost productivity. The company expects to increase productivity and reduce costs by $500 million a year over the three years, compared to $300 million to $350 million for each of the previous three years. The program targets efficiency gains in delivery, remote connectivity, sales productivity, pricing, design, and supply chain.

Mergers and Acquisitions

Following the breakup, Xerox Corp. remains on the prowl for acquisitions. Its recent purchases included:

-- Global Imaging Systems, a multiple-brand dealer in Iowa, and MT Business Technologies, a multi-brand dealer in Ohio, in 2017. The deals expand Xerox's distribution in those states.

-- Intellinex, formerly Intrepid Learning Solutions, a Seattle-based provider of outsourced learning services.

-- RSA Medical, a provider of health assessment and risk management for members interacting with health and life insurance companies.

-- Healthy Communities Institute, a California-based company with a cloud platform for health analytics.

-- inVentiv Patient Access Solutions, a patient access and reimbursement services hub.

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Xerox Corporation

201 Merritt 7
Norwalk, CT 06851-1056
Phone: 1 (203) 968-3000
Fax: 1 (203) 968-3917

Stats

  • Employer Type: Public
  • Stock Symbol: XRX
  • Stock Exchange: NYSE
  • CEO: Jeffrey Jacobson
  • Chairman: Robert J. Keegan
  • EVP and CFO: William F. Osbourn
  • 2016 Employees: 37,600

Major Office Locations

  • Norwalk, CT

Other Locations

  • Fairbanks, AK
  • Auburn, AL
  • Birmingham, AL
  • Dothan, AL
  • Hoover, AL
  • Huntsville, AL
  • Mobile, AL
  • Montgomery, AL
  • Pelham, AL
  • Vestavia, AL
  • Hot Springs, AR
  • Little Rock, AR
  • Phoenix, AZ
  • Tucson, AZ
  • Apple Valley, CA
  • Atascadero, CA
  • Burbank, CA
  • Cerritos, CA
  • Chico, CA
  • City Of Industry, CA
  • Concord, CA
  • El Segundo, CA
  • Fairfield, CA
  • Fresno, CA
  • Hayward, CA
  • La Palma, CA
  • Los Angeles, CA
  • Milpitas, CA
  • Monrovia, CA
  • Oakland, CA
  • Ontario, CA
  • Palo Alto, CA
  • Pasadena, CA
  • Redding, CA
  • Ridgecrest, CA
  • Sacramento, CA
  • Salida, CA
  • Salinas, CA
  • San Bernardino, CA
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • Santa Ana, CA
  • Santa Clara, CA
  • Santa Fe Springs, CA
  • Santa Monica, CA
  • Stockton, CA
  • Visalia, CA
  • Westlake Village, CA
  • Boulder, CO
  • Colorado Springs, CO
  • Denver, CO
  • Fort Collins, CO
  • Glenwood Springs, CO
  • Greeley, CO
  • Silverthorne, CO
  • Hartford, CT
  • Stamford, CT
  • Windsor, CT
  • Washington, DC
  • Wilmington, DE
  • Delray Beach, FL
  • Hollywood, FL
  • Jacksonville, FL
  • Jupiter, FL
  • Maitland, FL
  • Orlando, FL
  • Tampa, FL
  • Atlanta, GA
  • Duluth, GA
  • Greensboro, GA
  • Savannah, GA
  • Hilo, HI
  • Honolulu, HI
  • Kailua, HI
  • Kailua Kona, HI
  • Lihue, HI
  • Cedar Rapids, IA
  • Urbandale, IA
  • West Des Moines, IA
  • Boise, ID
  • Bloomington, IL
  • Champaign, IL
  • Channahon, IL
  • Chicago, IL
  • Hinsdale, IL
  • Naperville, IL
  • Oak Brook, IL
  • Peoria, IL
  • Rockford, IL
  • Rosemont, IL
  • Schaumburg, IL
  • Springfield, IL
  • Tinley Park, IL
  • Indianapolis, IN
  • Zionsville, IN
  • Lenexa, KS
  • Shawnee Mission, KS
  • Bowling Green, KY
  • Lexington, KY
  • London, KY
  • Louisville, KY
  • Alexandria, LA
  • Baton Rouge, LA
  • Lake Charles, LA
  • Metairie, LA
  • New Orleans, LA
  • Auburn, MA
  • Boston, MA
  • Great Barrington, MA
  • Holyoke, MA
  • Waltham, MA
  • Wilmington, MA
  • Annapolis Junction, MD
  • Columbia, MD
  • Cumberland, MD
  • Auburn, ME
  • Augusta, ME
  • Bangor, ME
  • Portland, ME
  • Presque Isle, ME
  • Topsham, ME
  • Ada, MI
  • East Lansing, MI
  • Grand Rapids, MI
  • Lansing, MI
  • Madison Heights, MI
  • Mount Pleasant, MI
  • Novi, MI
  • Saginaw, MI
  • Southfield, MI
  • Minneapolis, MN
  • Moorhead, MN
  • Fenton, MO
  • Jefferson City, MO
  • Kansas City, MO
  • Saint Louis, MO
  • Bozeman, MT
  • Stevensville, MT
  • Charlotte, NC
  • Elizabeth City, NC
  • Kinston, NC
  • Mooresville, NC
  • Morrisville, NC
  • Columbus, NE
  • Lincoln, NE
  • Omaha, NE
  • Portsmouth, NH
  • Cherry Hill, NJ
  • Clifton, NJ
  • Morris Plains, NJ
  • Mount Laurel, NJ
  • Princeton, NJ
  • Somerset, NJ
  • Tenafly, NJ
  • Woodbridge, NJ
  • Albuquerque, NM
  • Henderson, NV
  • Las Vegas, NV
  • Albany, NY
  • Brooklyn, NY
  • Buffalo, NY
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  • New Windsor, NY
  • New York, NY
  • Rochester, NY
  • Suffern, NY
  • Syracuse, NY
  • Tarrytown, NY
  • Webster, NY
  • White Plains, NY
  • Athens, OH
  • Avon Lake, OH
  • Blue Ash, OH
  • Broadview Heights, OH
  • Cleveland, OH
  • Columbus, OH
  • Cuyahoga Falls, OH
  • Dayton, OH
  • Fairlawn, OH
  • Girard, OH
  • Groveport, OH
  • Monroe, OH
  • Sidney, OH
  • Toledo, OH
  • West Chester, OH
  • Wooster, OH
  • Bartlesville, OK
  • Oklahoma City, OK
  • Tulsa, OK
  • Yukon, OK
  • Medford, OR
  • Portland, OR
  • Salem, OR
  • Wilsonville, OR
  • Allentown, PA
  • Coraopolis, PA
  • Cranberry Township, PA
  • Harrisburg, PA
  • Horsham, PA
  • Johnstown, PA
  • North Wales, PA
  • Pittsburgh, PA
  • Charleston, SC
  • Columbia, SC
  • Florence, SC
  • Greenville, SC
  • Wando, SC
  • Chattanooga, TN
  • Cordova, TN
  • Knoxville, TN
  • Memphis, TN
  • Austin, TX
  • Bryan, TX
  • Carrollton, TX
  • Corpus Christi, TX
  • Dallas, TX
  • El Paso, TX
  • Fort Worth, TX
  • Houston, TX
  • Irving, TX
  • Laredo, TX
  • Lewisville, TX
  • Longview, TX
  • Lubbock, TX
  • Pharr, TX
  • Plano, TX
  • San Antonio, TX
  • Salt Lake City, UT
  • West Jordan, UT
  • Ashland, VA
  • Fairfax, VA
  • Hampton, VA
  • Norfolk, VA
  • Richmond, VA
  • Roanoke, VA
  • Vienna, VA
  • Virginia Beach, VA
  • Auburn, WA
  • Kennewick, WA
  • Tukwila, WA
  • Yakima, WA
  • Appleton, WI
  • Brookfield, WI
  • La Crosse, WI
  • Madison, WI
  • Slinger, WI
  • Charleston, WV
  • Morgantown, WV
  • Saint Albans, WV
  • Sheridan, WY
  • Barueri, Brazil
  • Belo Horizonte, Brazil
  • Cachoeirinha, Brazil
  • Cotia, Brazil
  • Curitiba, Brazil
  • Florianopolis, Brazil
  • Fortaleza, Brazil
  • Guara, Brazil
  • Itatiaia, Brazil
  • Porto Alegre, Brazil
  • Rio De Janeiro, Brazil
  • Salvador, Brazil
  • Sao Paulo, Brazil
  • Simoes Filho, Brazil
  • Vitoria, Brazil
  • Brantford, Canada
  • Calgary, Canada
  • Chatham, Canada
  • Cobble Hill, Canada
  • Collingwood, Canada
  • Cranbrook, Canada
  • Dartmouth, Canada
  • Edmonton, Canada
  • Fort Saskatchewan, Canada
  • Fort St. John, Canada
  • Gander, Canada
  • Hamilton, Canada
  • Hay River, Canada
  • Keewatin, Canada
  • Kingston, Canada
  • Kitchener, Canada
  • Kitimat, Canada
  • Lethbridge, Canada
  • London, Canada
  • Markham, Canada
  • Mississauga, Canada
  • Montréal, Canada
  • North York, Canada
  • Ottawa, Canada
  • Saint John, Canada
  • Saint-Laurent, Canada
  • Saskatoon, Canada
  • Scarborough, Canada
  • Toronto, Canada
  • Valcourt, Canada
  • Vancouver, Canada
  • Windsor, Canada
  • Winnipeg, Canada
  • Hyderabad, India
  • Koerich, Luxembourg
  • Guadalajara, Mexico
  • Monterrey, Mexico
  • Puebla, Mexico
  • Singapore, Singapore
  • Best, The Netherlands
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