Xerox, renowned for its digital printing and document management technologies, has unveiled plans to downsize its employee count by 15%, marking a significant step in its broader strategy aimed at restructuring its organizational framework and operational model.
The restructuring initiative includes not only a substantial reduction in the workforce but also a comprehensive leadership reshuffle, introducing fresh faces into key executive roles. At the close of the previous year, Xerox’s employee roster stood at approximately 20,500. The proposed reduction is poised to impact more than 3,000 employees, with the layoffs scheduled for implementation within the current quarter at Xerox.
Xerox Implements Strategic Shift to Bolster Core, Digital Services
“This strategic move signifies a fundamental shift in our organizational structure, positioning Xerox for heightened efficiency and adaptability in an evolving market,” a company spokesperson stated.
New organizational structure to support strategic execution:
The company has redesigned and realigned its executive team to support the new operating model. Effective immediately, John Bruno will lead the enterprise alignment of Print, Digital Services, and IT Services businesses. Louie Pastor returns to Copier firm as Chief Transformation & Administrative Officer, charged with overseeing the Xerox Reinvention Office and the newly established Global Business Services organization. Flor Colon, has been appointed Chief Legal Officer and Corporate Secretary.
“Congratulations to our new executive leadership team, and my sincere thanks to Joanne and Tracey for their countless contributions to our company and culture,” said Bandrowczak. “Our new operating model is a significant step towards accomplishing the goals we seek to achieve with our Reinvention.”
By implementing this new operating model, the company will take action this quarter, targeting a 15 percent workforce reduction. Proposed reductions will be subject to formal consultation with local works councils and employee representative bodies where applicable. Xerox is committed to providing transition support for affected employees.
The copier firm’s decision to streamline its workforce and recalibrate its leadership reflects a strategic pivot aimed at optimizing operations and adjusting to changing industry dynamics. The company aims to fortify its competitive edge and reinforce its position as a leader in digital printing and document management technologies through this comprehensive restructuring effort.