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Workforcereduction

All articles tagged with #workforcereduction

business1 year ago

Editas Medicine Restructures, Cuts Workforce Amid Strategic Shift

Editas Medicine has announced a strategic shift to focus on in vivo gene editing, aiming for human proof of concept by 2026. This realignment includes significant workforce reductions, cutting 65% of its staff, to streamline operations and extend its cash runway into 2027. Recent preclinical advancements in gene editing, particularly in hematopoietic stem cells and liver applications, have prompted this transition. The company plans to share more detailed data and timelines in 2025, while its stock saw a decline following the announcement.

via Yahoo Finance|
#biotechnology#business#editasmedicine
business2 years ago

"Xerox Slashes 15% of Jobs Amidst Major Operational Overhaul"

Xerox has announced a 15% reduction in its global workforce as part of a restructuring effort to shift focus towards business services and away from its traditional photocopier business. This move is expected to occur in the first quarter of 2024 and follows a series of strategic changes and divestments in response to the digital age's impact on demand for printed documents. The announcement led to a significant drop in Xerox's share price, despite previous cost-cutting measures and attempts to diversify its business, including a failed merger with Fujifilm and an unsuccessful bid to acquire HP.

via The New York Times|
##business#businessservices
business-and-finance2 years ago

"Xerox Announces 15% Workforce Reduction as Part of Strategic Reinvention"

Xerox is set to reduce its workforce by 15%, impacting over 3,000 employees, as part of a major organizational restructuring and implementation of a new operating model. The company aims to adapt to the hybrid workplace, improve productivity, and focus more on digital and IT services. This decision follows the recent redesign and realignment of its executive team and the death of CEO John Visentin. Xerox's stock experienced a decline during midday trading following the announcement, despite the overall positive market reaction to the restructuring plan. Transition support will be provided for the affected employees, with the cuts subject to consultation with employee representative bodies where necessary.

via Fox Business|
##business-and-finance#corporaterestructuring
business2 years ago

"Xerox Slashes Workforce by 15%, Eliminating 3,000 Jobs Amid Restructuring"

Xerox has announced a restructuring plan that will cut 15% of its global workforce, which could affect up to 3,450 jobs. The layoffs are part of a strategy to stabilize the core print business, increase productivity, and diversify revenue. The company will engage in consultations with employee representatives, and is committed to supporting transitioning staff. This announcement comes alongside leadership changes at Xerox, which has a historical significance in the development of the xerographic process and has been a major player in the printing industry since its inception.

via Democrat & Chronicle|
##business#corporatenews
business-and-economy2 years ago

"Xerox Announces 15% Workforce Reduction and Major Operating Model Overhaul"

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.

via New York Post |
##business-and-economy#corporatereinvention
business2 years ago

"Xerox Announces 15% Workforce Reduction in Strategic Reinvention Plan"

Xerox has announced a restructuring plan that will result in a 15% reduction of its global workforce. The move is part of a new operating model aimed at improving the core print business, increasing productivity and efficiency, and diversifying revenue. The layoffs will affect operations globally, including the company's Rochester-area operations in Webster. Xerox, which was founded in Rochester in 1906 and has been headquartered in Connecticut since 1969, is committed to providing support for affected employees. As of the 2022 annual report, Xerox had 20,500 employees worldwide.

via 13WHAM-TV|
##business#businessmodel
business2 years ago

"Xerox to Slash Workforce by 15% in Major Reinvention Effort"

Xerox has announced a restructuring plan that includes a 15 percent reduction in its workforce. The specifics of the job cuts, including the number of local jobs impacted, remain unclear. The company's CEO, Steve Bandrowczak, stated that the restructuring will focus on Xerox's core print business, global business services, and IT and digital sectors. The job cuts are pending consultations with local works councils and employee representatives, and Xerox has pledged to support transitioning employees.

via RochesterFirst|
##business#corporatenews
business-and-finance2 years ago

"Xerox Announces 15% Workforce Reduction in Major Restructuring Effort"

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.

via CNBC|
##business-and-finance#corporaterestructuring