And they're saying that the second quarter maybe looks lower than the first quarter. Maybe we could take a profit. David Johnson in Dallas, Texas. More details on today's market retreat when we do the numbers. 9,000 jobs will be lost as part of an effort to save the company a billion dollars a year.
Analysts say it's part of the company's on-going effort to keep a competitive edge.
Michelle Brier reports from New York. But computer printers, e-mail and faxes allow users to share information in ways that bypass the old Xerox machine. Technology analyst Eric Blachno with Bear Stearns and Co., says companies like Xerox must reinvent themselves or face extinction. But as the market moves the company basically has to eat its young very quickly because, if you don't cannibalize your own sales, someone else will. He says Xerox has been updating itself for years and is not your father's photocopy company anymore.