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2019 Vault Rankings

At a Glance


One of the most recognizable names in the business world

Solid benefits package and competitive pay

Plenty of opportunities for employees to advance


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

Xerox Corp. is not a copy of its former self. The company, whose name has been a synonym for "to copy," remains a leading seller of copiers and printers, from basic black-and-white output to high-end color systems. These days, Xerox makes most of its revenue from its post-sale services such as document management, maintenance, supplies and paper, and financing. Xerox also sells software for automating and integrating print jobs from start to finish. Its products are used in offices of large and small- and medium-sized businesses and in production plants of commercial printing companies. US customers account for about 60% of revenue.


Xerox makes machines that make copies, print, send faxes, scan documents, and more, as well as the ink, paper, and support that keeps the equipment running. The company charges from a few hundred to thousands of dollars for its equipment, but it makes more than 75% of its revenue from those post-sale products and services.

Xerox manages its offerings in three segments: Xerox Services, Workplace Solutions and Graphic Communications and Production Solutions.

Xerox Services includes Intelligent Workplace Services (IWS) and a range of Digital Services that leverage its software capabilities in Workflow Automation, Personalization and Communication Software, Content Management Solutions, and Digitization Services.

Workplace Solutions consists of Xerox's Entry and Mid-Range equipment products, which share common technology, manufacturing, and product platforms.

Graphic Communication and Production Solutions are designed for customers in the graphic communications, in-plant and production print environment with high-volume printing requirements. Its broad portfolio of presses and solutions provides full-color, on-demand printing of wide range of applications.

Geographic Reach

Although Xerox Corp. operates in more than 160 countries, about 60% of sales are from customers in the US. About 25% of sales are from Europe with the rest of the world accounting for the rest.

Based in Norwalk, Connecticut, Xerox has principal manufacturing and engineering facilities located in New York, California, Oklahoma, Oregon, Canada, the United Kingdom, Ireland and a leased site in the Netherlands. It also ha principal research facilities located in California, New York, and Canada.

Sales and Marketing

Xerox 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. In addition, its wholly-owned subsidiary, XBS, an office technology organization comprised of regional core companies in the U.S., sells document management and IT services.

The Xerox brand is well-known and its customers are ranging from small- medium businesses to printing production (including graphic communications) companies, government entities, educational institutions and Fortune 1000 corporations.

Financial Performance

Xerox's revenue remained on a years-long slide in 2019, falling to $9.1 billion, down 6% from 2018, as the company's equipment business continued to lose ground. The company has shed about $2.8 billion of revenue since 2014.

In 2019, equipment sales were 5% lower than in 2018, due to the decrease of sales of entry and mid-level machines. Sales of higher-end higher margin equipment, however, dropped 4% for color systems and 14% for black-and-white systems. Revenue from the post-sale segment slipped 6% in 2019 from 2018 because of fewer signings and installations.

Xerox's profit popped 275% higher to $1.4 billion in 2019, up $361 million from 2018, boosted by cost reductions that offset revenue declines.

The company's cash and equivalents stood at $2.8 billion in 2019 compared to $1.1 billion in 2018. Operations generated $1.3 billion in 2019, while investing activities provided $2.2 billion and financing activities used $1.8 billion, primarily for payments on long-term debt and company's stock repurchase.


Xerox is a well-known name in corporate America, but it might not carry the gleam of innovation that the company would like. Its sales have declined over the past five years as its copiers and printers have elicited little excitement in the market. The company is moving to change that with new technologies and increased efficiency.

Xerox prioritizes technology development in four areas: Digital packaging and print, 3D printing and digital manufacturing, artificial intelligence capabilities, and sensors and services for the Internet of Things. One of the company's recent offerings was its ConnectKey software that allows Xerox devices to integrate into digital workflows.

The company is also taking steps to make its operations more efficient by increasing use of shared service centers, consolidating its IT infrastructure and real estate footprint, and speeding up its supply chain. It plans to get $640 million of cost savings in 2019 as part of $1.5 billion in savings between 2019 and 2021. In a related matter, Xerox plans to merge into a holding company, which, it said, would eliminate duplicate administrative requirements and costs. The move was approved by shareholders, but needs regulatory approval.

Xerox agreed to end its 58-year joint venture, called Fuji Xerox, with Fujifilm by selling its 25% stake in the venture to its partner for about $2.3 billion. The agreement came about a year after a proposed merger between Xerox and Fujifilm was called off. The companies created Fuji Xerox in 1962 to sell printers and copiers in the Asia/Pacific region. As part of the agreement, Fujifilm will drop its lawsuit against Xerox over the soured merger. The agreement will allow each company to pursue new product and geographic markets.

To improve its overall sales structure, Xerox reorganized its geographic units into two, the Americas and Europe, the Middle East, and Africa (EMEA). The Americas region combines the US, Canada, Mexico, Central and South America, while India becomes part of the EMEA region.

Mergers and Acquisitions

In 2020, Xerox has acquired two services and technology providers, Altodigital and ITEC Connect, in the U.K. "We're supporting small and midsize businesses seeking a modern work experience through two acquisitions in the U.K.," said Xavier Heiss, EVP and president of EMEA Operations, Xerox. "Altodigital and ITEC are both leaders in managed print services and specialists in IT services, an area into which Xerox is rapidly expanding with new offerings."

In 2019, Xerox acquired two new multi-brand dealers, Rabbit Office Automation (ROA) and Heritage Business Systems (HBS), to grow its presence in key markets: the San Francisco Bay Area and the Delaware Valley, respectively. Xerox will focus on penetrating the small-to-medium sized business market through organic and inorganic growth, which includes making investment in dealers like ROA and HBS. Integrating ROA and HBS into Xerox Business Solutions (XBS) will expand Xerox's local footprint, and clients will now have access to the industry's most comprehensive offering portfolio.

Company Background

The Haloid Co. was incorporated in 1906 to make and sell photographic paper. In 1935, it bought photocopier company Rectigraph, which led Haloid to buy a license for a process called electrophotography (renamed xerography from the ancient Greek words for "dry" and "writing") from the Battelle Memorial Institute in 1947.

Haloid commercialized xerography with the Model A copier in 1949 and the Xerox Copyflo in 1955, and by 1956 xerographic products represented 40% of sales. The company changed its name to Haloid Xerox in 1958 (Haloid was dropped from the name in 1961), and in 1959 it introduced the first simplified office copier. That machine took the world by storm, beating out such competing technologies as mimeograph (A.B.Dick), thermal paper (3M), and damp copy (Kodak). Sales soared to nearly $270 million in 1965.

Xerox Corporation

201 Merritt 7
Norwalk, CT 06851-1056
Phone: 1 (800) 835-6100

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: XRX
Stock Exchange: , NYSE
CEO: Jeffrey Jacobson
Chairman: Robert J. Keegan
EVP and Chief Commercial Officer: Kevin M. Warren
Employees (This Location): 475
Employees (All Locations): 27,000

Major Office Locations

Norwalk, CT

Other Locations

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