Anne Mulcahy Taken Quotations

We are aggressively implementing our cost-reduction plans, which will yield more than $1 billion in savings by the end of 2001, ... Since the third quarter of 2000, we have taken actions that account for more than one-third of this target, including the reduction of approximately 2,000 jobs worldwide in the fourth quarter. This activity will intensify with the reduction of 4,000 jobs in the first quarter and additional reductions through the balance of the year.

The settlement with the commission effectively resolves Xerox's outstanding issues with the SEC, ... Xerox today is a stronger company with a new management team that has taken all the right steps to turn our business around.