Xerox Reduces Product Line and Workstaff

As part of its ongoing effort to cut $1 billion in costs by the end of 2001, Xerox has opted to discontinue its line of personal copiers and desktop ink jet printers. Additionally, the company has said it will also eliminate 1,500 jobs. Company president Anne M. Mulcahy said the products would be discontinued within six months, and that these business decisions will add 10 cents per share to earnings in the second half of the year.