On Wednesday morning, Fujifilm Holdings announced that it will take a majority stake in Xerox. The companies have had a joint venture for years. The new business will be called Fuji Xerox, with Fujifilm owning 50.1 percent and Xerox keeping its listing on the NYSE. Fuji Xerox will have dual headquarters in the U.S. and in Japan, and it expects to deliver $1.7 billion in annual cost savings by 2022, with $1.2 billion of that to be achieved by 2020.
Before the merger was announced, Fujifilm said it planned to cut 10,000 jobs at Fuji Xerox to stay competitive. So what will the new business mean for the 3,400 Xerox employees in Rochester? This hour, our guests discuss Xerox’s history in our area and their expectations for its future. Our guests: