Xerox, the global copiers group, is looking for a direct marketing agency to work across Europe.
The company's pan-European account is held by Impiric, which works for Xerox as part of Young & Rubicam. It is not known whether Impiric will repitch for the business.
Xerox is believed to be in the early stages of the process of drawing up a pitchlist for the business. The account is thought to be worth approximately pounds 8.5 million in total. Impiric has produced a range of direct mail, inserts and press campaigns for Xerox. The copier company is expected to move its focus from advertising to placing a greater emphasis on direct marketing as part of the review. Xerox spends pounds 1.3 million on advertising in the UK through Y&R.
Part of the pitch process for agencies involves an online auction to determine account fees. Agencies will submit estimated costs and be able to view the lowest cost submitted by an agency as part of the review.
The review comes as Xerox attempts to turn around losses that almost hit dollars 200 million in the last quarter of 2000.
It is shedding around 6,000 jobs and expects to return to profitability by the end of 2001.
Xerox's financial problems have stemmed from decreasing demand for office copying products because of the evolution of internet messaging.
Richard Bagnall-Smith, the managing director of Impiric in the UK, said: 'We work for Xerox as part of Y&R, this is not being reviewed. Often Xerox's local offices look for agencies to work on projects.'