Just a few days ago I wrote about Xerox moving out of downtown Rochester. Today they announced a merger. There is a joint venture, Fuji Xerox, that was created in 1962 to sell copy products in Asia. It was owned by Fujifilm of Japan and Xerox (US). Now a merger of the two will create a worldwide company also with the name Fuji Xerox to sell document and copier solutions. Fujifilm will own the controlling percentage at 50.1%. The announcement also said that approximately 10,000 people would be laid-off in Asia.
There are currently 3,400 Xerox employees in the Rochester area and there was no mention of lay-offs for any of them. Then again, any such decision wouldn’t be announced until after the merger is completed in August. It is expected that some of the area employees would eventually be let go.
The Xerox 914 copier was first manufactured in 1959. It did not sell very well at first as at that time no one thought that it would be worth the cost. Instead Xerox would lease the machine a low rate and charge for each copy. They ended up making more money that way than if a company had bought the copier out-right.