Xerox plans to lay off 3,075 employees, accounting for 15%

News from this site on January 4, Xerox Corporation recently issued an announcement, announced that it would lay off 15% of its employees and implement a new operating model through internal structural reforms.

Previously disclosed public data by this company, which focuses on digital printing and document management technology, shows that the company will lay off 3,075 employees by the end of 2022, which means that the total number of employees will be reduced to 20,500.

Xerox shares had been trending upward since October, but fell from $17.69 to $15.69 as a result of Wednesday's announcement. The news had a clear impact on the stock price.

This site provides a brief overview of Xerox’s restructuring plan:

Core Printing Business:

• To meet the needs of buyers in today’s hybrid workplace economy , the company decided to simplify its core products.

• In order to support partners in marketing and provide printing solutions to customers, we have decided to increase investment.

• Collaborate with partners to achieve strategic growth in market share by expanding coverage, optimizing service costs and improving profitability.

Global Business Services:

• Utilization of shared capabilities and platforms can streamline internal processes and increase enterprise efficiency and scalability. By sharing functions and platforms, enterprises can centrally coordinate various departments and processes to avoid duplication of effort and waste of resources. This increases productivity and reduces errors and delays. At the same time, shared functions and platforms can also provide unified data and information management, allowing enterprises to better conduct data analysis and decision-making. By improving the overall enterprise

• # and by reducing transaction costs, we can gain operating leverage and investment capabilities for growth units.

• It is our goal to improve the quality of each business unit and function while focusing on improving the customer and employee experience.

Information technology and digital services:

• Let organizations pay more attention to Xerox’s emerging digital services and IT service capabilities, accelerate revenue diversification, and shift Markets with higher growth and profitability.

• Implement new multi-department organizational focus to drive internal alignment and provide additional services to existing and prospective customers.

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