Xerox has announced a 15% reduction in workforce, with the proposed reductions subject to formal consultation with local works councils and employee representative bodies where appropriate. Xerox is committed to providing transition support to affected employees. Xerox expects to cut more than 3,000 jobs as the printer and copier maker implements a new operating model and a new organizational structure, according to headcount disclosed in recent filings.
Xerox has formed a global business services unit aimed at stabilizing its core printing business. Xerox also plans to increase its focus on emerging information technology and digital services sectors.
John Bruno has been named president and chief operating officer of Xerox, effective immediately, to lead the corporate restructuring of the company's printing, IT and digital services businesses. Among other appointments, Louie Pastor returns to the company as chief transformation and executive officer to lead the new global business services unit.
Xerox Americas Executive Vice President Joanne Collins Smee and Chief Product Officer Tracey Koziol will leave the company on December 31, 2023.
Xerox CEO Steven Bandrowczak said, "The shift to a business unit operating model is a continuation of our customer-centric, balanced execution priorities designed to accelerate products and services, go-to-market and operational efficiencies across enterprise functions in all regions we serve."
According to regulatory documents, as of the end of 2022, Xerox had 20,500 employees, a decrease of approximately 12% from the previous year.
Layoffs at technology companies are once again in the spotlight.
According to reports, many technology companies have announced layoff plans in 2023, including Facebook parent company Meta, Amazon and Microsoft. According to data compiled by the Layoffs.fyi website, 1,183 technology companies around the world will lay off a total of 261,997 people in 2023. Data from the website shows that this number is significantly higher than in 2022, when 1,064 technology companies laid off a total of 164,969 people.
In the past seven days, "massive layoffs are coming in 2024" has been a popular search on Google, with search volume surged by more than 5,000%, and searches for "massive layoffs in 2024" have also increased by more than 2,500%. “Tech company layoffs” was also a popular search.