Xerox is planning to cut 15% of its workforce, or around 3,000 jobs, in a “reinvention” plan that includes a new organizational structure and operating model. The company, known for producing office equipment like printers and copiers, announced the changes on January 3, 2024.
Xerox has about 20,500 global employees, and shares tumbled nearly 11% following the news. The new operating plan includes improving and stabilizing the core print business, simplifying global business services, and focusing more on its IT services unit. The layoffs are expected to occur this quarter, and affected employees will receive transition support.
Source: CNN Bussines
Source: MSN
