Xerox Chairwoman and CEO Ursula Burns is providing some more detail about the recent announcement that the company will split into two different businesses, one focusing on document technology, the other on business services.
In a conference this week hosted by Goldman Sachs, Burns delved a bit more into the company’s announcement that it planned to reduce costs by nearly two and a half billion dollars over the next three years.
“We’re looking at things as basic as where we’re located, everything that you can imagine to see whether or not we can drive an additional 600 million dollars out of costs this year and next and the year after that so that we start these two businesses with a significantly more nimble, leaner more focused infrastructure.”
Burns again said company leaders are not pursuing outright sale of the company, but she noted that as a public company, they do have fiduciary responsibilities.
“Will the two pieces be for sale or will somebody buy the two pieces. Our intention is that the two pieces are not for sale but we are a public company and we have a board that is responsible to shareholders and if somebody came through we’d have to look at any reasonable offer that came forward.”
Soon after Xerox’s recent announcement about splitting into two companies, Senator Charles Schumer issued a statement saying he spoke with Burns, and that Burns told him the split would not impact current job levels in Rochester, and that the CEO also told him there are no plans to sell or weaken the Document Technology business in Rochester.
