Xerox to cut its work force by 5%

Due to a slow down in orders in US and UK markets, Xerox has decided to cut its workforce by 3,000 people.

Worsening econmic conditions, and the inability of customers to borrow money to fund the purchase of new machines.

In order to meet forecast profit targets for 2009, Xerox needs to make the cut in its workforce.

Overall equipment sales were down 3% to $1.13 billion.