"Xerox Announces 15% Workforce Reduction and Major Operating Model Overhaul"
TL;DR Summary
Xerox is cutting 15% of its workforce, amounting to 3,000 jobs, as part of a strategic "reinvention" to boost its core print business and create a new business services unit. This move comes despite the company being profitable in recent years, with the layoffs reflecting broader job market trends where job postings have significantly decreased. The restructuring includes an executive shuffle, with new leadership aiming to enhance product and service delivery efficiency. The announcement led to a nearly 10% drop in Xerox's share price.
Topics:business##business-and-economy#corporatereinvention#layoffs#restructuring#workforcereduction#xerox
- Xerox to slash 15% of workforce in bloodbath that will eliminate 3,000 jobs New York Post
- Xerox to cut 15% of its workforce CNBC
- Xerox shares slide after cutting 15% of its workforce CNN
- Xerox Reinvention and Operating Model Evolution Yahoo Finance
- Xerox to Cut Workforce 15% and Overhaul Operating Model The Wall Street Journal
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