Xerox Years of Growth & Innovation

Xerox Company was exceptional during the hard economic times that accompanied the Great Depression. After losing a small amount in 1929 the business began to expand its profits and workforce. Whereas many companies were either laying off workers or trimming their hours, Xerox was working their employees regular hours. How did this happen? One of the main reasons was a steady stream of innovations that were introduced by physicists like Homer Price and Chet Carlson. Both men worked intensely to develop new products to add to Xerox's mainstay, a specially sensitized paper marketed as Haloid Record. Haloid Record enabled the Rochester, New York based technology firm to survive the Great Depression. It was a cash cow for Xerox because it was superior to similar products made by their rivals.