A merger by Fujifilm of its Xerox company and Fuji Xerox joint venture will mean 10,000 job cuts at Fuji Xerox by 2020.
Fujifilm said it is aiming to make savings of $1.2bn (€960m) by 2022, and $450m of savings have been targeted from Fuji Xerox.
Leasing Life contacted Xerox UK for comment on whether any of the targeted savings will affect Xerox or Fuji Xerox’ captive leasing business.
A spokesperson for Xerox said that there would be no immediate impact until both companies had completed the merger, but omitted clarification on whether leasing jobs were at risk.
The office equipment sector has suffered disruption as offices move from paper to online, with copiers falling in popularity as scanners and email rise in use – FujiFilm said it has been suffering an increasingly severe market.
The office equipment leasing sector has reflected these changes, with falling penetration rates and lowering prospects as the sector handles hardware and process changes in offices.
The new merged Fuji Xerox business has 14% market share in Europe, which contributes to 13% of its revenue.
At December 31, 2017, Xerox said its $4.2bn finance assets consisted of $3.7bn of finance receivables and $500m of equipment on operating leases. Fuji Xerox had $1.6bn of finance receivables, excluding equipment on operating leases.