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.

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John Jordan

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