A year ago, the company reported net income for the thirdquarter of $339 million. While it did not report a specific numberof job cuts, the company states that it is "substantiallyincreasing the number of positions removed from the company."

The struggling copier and business machine manufacturer willmost likely reduce some staff at its headquarters operation inStamford, but stresses it has no plans at the moment to relocatethe entire headquarters operation to Rochester, NY, which had beenthe source of some speculation.

Xerox's corporate headquarters is located at 800 Long Ridge Rd.The firm employs approximately 500 workers there, which totals255,000 sf. Xerox owns the adjoining land at its Stamfordheadquarters property, but leases the office space from StamfexAssociates, LP. Xerox and Stamfex engaged in a sale/leasebacktransaction in 1985, where Xerox eventually retained ownership ofthe approximately 23 acres of land, but sold the office building toStamfex and then signed a lease for the entire building, accordingto a Xerox spokesperson.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.