Xerox is set to cut 15% of its workforce to boost its core print business and create a new business services unit. The company is adopting a new operating model and organizational structure to boost its core print business. CEO Steven Bandrowczak referred to the strategic pivot as a “reinvention.”
As of October 2023, Xerox had around 20,000 employees. The company is also shifting its leadership team, with John Bruno leading the enterprise alignment of its print, digital services, and tech services business, and Louis Pastor overseeing the new global business services organization.
Their three key reinvention priorities and intended outcomes are:
- Core Print Business:
- Simplify our core products to align with the needs of economic buyers of today’s hybrid workplace.
- Increase investment in a partner-enabled go-to-market model that supports how clients prefer to procure their print solutions.
- With partners, pursue strategic market share gains by increasing reach, improving cost to serve, and enhancing profitability.
- Global Business Services:
- Through simplification, drive enterprise-wide efficiency and scalability with centrally coordinated internal processes leveraging shared capabilities and platforms.
- Garner operating leverage and investment capacity for our growth segments through lower transaction costs.
- Improve quality for all business units and functions while focusing on continuous improvement of clients’ and employees’ experiences.
- IT and Digital Services:
- Create greater organizational focus on Xerox’s emerging Digital Services and IT Services capabilities to accelerate revenue diversification toward markets with higher growth and profitability profiles.
- Implement a new multi-segment organizational focus to drive internal alignment and incremental services penetration with existing and prospective clients.
