Xerox to Cut Workforce 15% and Overhaul Operating Model


Xerox Holdings Announces Workforce Reduction and Leadership Changes

Updated Jan. 3, 2024 1:42 pm ET

Xerox Holdings, a leading printer maker, has recently unveiled plans to reduce its workforce by 15% and implement significant changes to its leadership team, all as part of a strategic reorganization of its operating model. The company aims to stabilize its core print business while also increasing its focus on emerging information technology and digital services.

In a statement released on Wednesday, Xerox announced the formation of a global business-services unit, which will play a crucial role in the company’s restructuring efforts. This move highlights Xerox’s commitment to diversifying its offerings beyond traditional printing solutions and adapting to the rapidly evolving technological landscape.

The decision to reduce the workforce by 15% reflects the company’s drive to become more agile and efficient in an increasingly competitive market. While it is undoubtedly a challenging development for affected employees, Xerox believes this step is necessary to streamline operations and position itself for future growth.

Additionally, Xerox plans to revamp its leadership team to align with its new strategic direction. By bringing in fresh perspectives and expertise, the company aims to drive innovation, improve customer experiences, and capitalize on emerging opportunities.

Xerox’s focus on its emerging information-technology and digital-services unit is a strategic response to the growing demand for digital solutions. As businesses increasingly rely on technology to streamline operations and enhance productivity, Xerox recognizes the need to provide comprehensive IT and digital services to meet these evolving customer needs.

This announcement comes at a time when Xerox is navigating a rapidly changing industry landscape. The decline in traditional printing and the rise of digital alternatives have necessitated a shift in the company’s focus. By embracing digital transformation and diversifying its portfolio, Xerox aims to position itself as a leader in both traditional and emerging markets.

While these changes may bring short-term challenges, they also signal a commitment to adaptability and resilience. Xerox is determined to evolve its business model to remain relevant and competitive in the face of evolving market dynamics.

As Xerox embarks on this strategic reorganization, it is essential to acknowledge the impact on its employees. The company is committed to providing support and assistance to affected individuals, ensuring a smooth transition during this period of change.

In conclusion, Xerox Holdings’ decision to reduce its workforce and implement leadership changes underscores the company’s commitment to transforming its business model. By prioritizing its global business-services unit and focusing on emerging information technology and digital services, Xerox aims to position itself for long-term success in an ever-evolving industry. While challenges lie ahead, Xerox remains dedicated to innovation, customer satisfaction, and creating a sustainable future for the company.

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