In a strategic move towards reinvention, Xerox Holding Corporation (XRX) has declared its intention to reduce its workforce by 15%, signaling a significant organizational restructuring. This decision is part of Xerox’s broader plan to introduce a new operating model and enhance its overall organizational structure.
Steven Bandrowczak, Chief Executive Officer at Xerox, emphasized the company’s commitment to reshaping its trajectory. He stated, “The evolution of Xerox’s Reinvention aligns our resources in three key areas – improvement and stabilization of our core print business, increased productivity and efficiency through the formation of a new Global Business Services organization, and disciplined execution in revenue diversification.”
The shift towards a business unit operating model is a strategic step in Xerox’s client-focused approach, aiming to accelerate product and services, go-to-market strategies, and enhance operating efficiencies across all global geographies served.
“This new operating model will prompt the company to take action in this quarter, targeting a 15% workforce reduction. Proposed reductions will undergo formal consultation with local works councils and employee representative bodies where applicable. Xerox is committed to providing transition support for affected employees,” the company affirmed in an official statement.
As Xerox embarks on this transformative journey, the announced workforce reduction reflects the company’s dedication to aligning its resources with evolving market demands and technological landscapes.
