Digital printing and document management technology provider Xerox has announced a major workforce reduction plan, with 15% of its employees slated to be laid off. This move is a part of Xerox’s plan to establish a new organizational structure and operational model.
As of December 31, 2022, Xerox had around 20,500 employees, according to a U.S. Securities and Exchange Commission filing. Based on these numbers, approximately 3,075 employees will be affected by the announced layoffs.
According to a release, Xerox’s restructuring strategy includes streamlining its core print products, enhancing efficiency within its global business services, and prioritizing IT and other digital services. The executive team has also been restructured to better facilitate the new operational model.
The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to fast-track product and service delivery, market-go, and increase operational efficiency across all geographies we serve.
CEO Steven Bandrowczak
The job cuts will be implemented this quarter, as per the company release. Further comments were not provided by the Xerox representative.
