Xerox has confirmed that it will be laying off around 15% of its workforce – a substantial figure even by the standards of the 2022-2023 layoffs season – equating to the loss of around 3,000 jobs, if its latest December 2023 headcount is anything to go by.
The Connecticut-based company announced on January 3 a revised operating model and organizational structure as part of what it’s calling its “reinvention.”
In addition to laying off workers, Xerox also announced changes to the way its business will be structured, hinting at simplifications and efficiency that are likely a response to the continually tough economic landscape.
Xerox lays off 3,000, 15%
As part of revising its core business, Xerox plans to simplify its products to better align with customer needs, among other cost-efficiency measures.
Simplifications are also being rolled out across its newly established Global Business Services, and the company’s IT and Digital Services business is also being reviewed.
Xerox CEO Steven Bandrowczak said: “The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to accelerate product and services, go-to-market, and corporate functions’ operating efficiencies across all geographies we serve.”
Changes have also been made to the firm's C-suite and executive team, including the departure of two EVPs.
The announcement confirmed that, subject to formal consultations, the 15% headcount reduction will take place over the coming quarter. Xerox said that it’s “committed to providing transition support for affected employees.”
Xerox declined to add any further information but confirmed that it's committed to providing transition support for the affected employees, which stands at 15% from its offices around the world.
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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!