Xerox Corporation, the U.S.-based office equipment maker, says its fourth-quarter loss narrowed after it cut costs by firing workers and exiting businesses.

The company reported a net loss of $4 million, or one cent a share, compared with a loss of $20 million, a year earlier.

Bloomberg Business News reports Xerox Chief Executive Anne Mulcahy says the company eliminated 13,600 jobs, reduced annual expenses by about $1.1 billion and sold some unprofitable businesses last year.

Some information for this report provided by Bloomberg and Reuters.

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