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Xerox Implementing Cost-Cutting Initiatives

October 24, 2008
ROCHESTER, NY—Despite seeing its third-quarter profit rise 2 percent, Xerox Corp. announced it will aggressively cut costs in the fourth quarter and take a $400 million charge. The company didn't indicate where the cuts would take place or provide a figure for the number of job cuts. Xerox earned $258 million, or 29 cents per share, during the third quarter.
 

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