Xerox Cutting 15% of Staff, Part of ‘Reinvention’

Xerox announced that it’s cutting 15 per cent of its workforce as it restructures its business.

According to CNBC, the reduction, which is expected to take place this quarter, could affect more than 3,000 employees.

What’s happening at Xerox?

In a news release on Jan. 3, Xerox outlined a restructuring plan, which involves:

• Simplifying products within its core print business
• Increasing efficiency across its global business services
• Boosting focus on IT and other digital services

The company, which specializes in document management solutions and services, has also “redesigned and realigned” its executive team to support the new operating model.

“The shift to a business unit operating model is a continuation of [Xerox’s] client-focused, balanced execution priorities and is designed to accelerate product and services, go-to-market, and corporate functions’ operating efficiencies across all geographies we serve,” CEO Steven Bandrowczak said in the release.

Bandrowczak added that the move is a “significant step towards accomplishing the goals we seek to achieve with our Reinvention.”

Xerox layoffs in Canada

It remains unclear if any Canadian employees will be let go as Xerox restructures its business.

The company employs more than 2,500 people in the country, according to its LinkedIn page.

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