"Xerox Announces 15% Workforce Reduction in Major Restructuring Effort"
TL;DR Summary
Xerox has announced a 15% reduction in its workforce, which will impact approximately 3,075 employees, as part of a new organizational structure and operating model aimed at increasing efficiency and focusing on digital services. The restructuring also includes a redesigned executive team. Following the announcement, Xerox's stock price dropped by over 9%. The layoffs are set to take place within the current quarter.
Topics:business##business-and-finance#corporaterestructuring#layoffs#stockmarket#workforcereduction#xerox
- Xerox to cut 15% of its workforce CNBC
- Xerox to Cut Workforce by 15% Amid Transformation Plan, New Leadership Team The Wall Street Journal
- Xerox targets cutting more than 3,000 jobs as part of reorganization, and stock extends losing streak MarketWatch
- Xerox to Cut 15% of Workforce. The Stock Is Falling. Barron's
- Xerox to cut 15% of workforce as part of restructuring initiative (XRX) Seeking Alpha
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