Xerox To Cut More Than 3,000 Jobs
On 3 January, Xerox announced a 15 per cent employment reduction as part of a strategic initiative to implement a new organisational structure and operational model.
According to a report with the US Securities and Exchange Commission, Xerox, which specialises in digital printing and document management technology, had roughly 20,500 employees as of 31 December 2022. Using this figure as a guide, the employment cut announced on Wednesday is projected to affect approximately 3,075 individuals.
“By implementing this new operating model, the company will take action this quarter, targeting a 15 per cent workforce reduction. Proposed reductions will be subject to formal consultation with local works councils and employee representative bodies where applicable. Xerox is committed to providing transition support for affected employees," the company announced in an official statement.
“The evolution of Xerox’s Reinvention aligns our resources in three key areas – improvement and stabilization of our core print business, increased productivity and efficiency through the formation of a new Global Business Services organization, and disciplined execution in revenue diversification," said Steven Bandrowczak, Chief Executive Officer at Xerox, said in an official release.
Furthermore, Joanne Collins Smee, executive vice president and president of Americas, and Tracey Koziol, executive vice president of Global Offering Solutions and chief product officer, have left the firm with effect from 31 December 2023.
