It’s the end of an era for an iconic Rochester company.
Wednesday, Xerox announced it will merge with Fujifilm in a $6.1 billion deal that will give Fuji control of the Rochester-based company.
Analysts say the move could be good news for the company and shareholders, but it’s still early on in the process. And there are questions on how this deal will affect Xerox’s 10,000 employees – including the 3,400 workers in Monroe County.
“Stock is up today, you never know what will happen moving forward,” says finance expert Doug Hendee of Brighton Securities. “This is an idea, right now; the long-term story will be about execution and that will remain to be seen.”
How will this impact Rochester’s Xerox employees though? Greater Rochester Chamber of Commerce President Bob Duffy says he’s optimistic.
“My first reaction when I saw the headline was concern i saw potential for job cuts,” he says. “I spoke to a high-ranking Xerox official. It has been reinforced that this will be a positive move for Xerox.”
The move comes days after Xerox announced the company would move its employees out of the Xerox Tower in downtown Rochester to the Webster campus.