Xerox today announced that it will lay off 15 per cent of its workforce as part of a newly introduced reinvention and operating model.
The U.S. based corporation provides printing and digital document products and services.
According to its latest filing with the U.S. Securities and Exchange Commission (SEC), Xerox has 20,500 employees, which means 3,075 employees will be getting the axe.
The cuts are expected to take place this quarter.
Xerox said that the proposed reductions will be subject to formal consultation with local works councils and employee representative bodies where applicable. It added that it is committed to providing transition support to affected employees.
Its new organizational structure seeks to improve its core printing business, increase productivity with the formation of a new Global Business Services organization and accelerate revenue diversification through increased focus on its digital and IT services.
“The shift to a business unit operating model is a continuation of our 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,” said Steven Bandrowczak, chief executive officer at Xerox.
The company has also restructured its executive team to support the new operating model, with several new appointments, and two departures: Joanne Collins Smee, executive vice president and president, Americas and Tracey Koziol, executive vice president of global offering solutions and chief product officer.
Bandrowczak thanked Smee and Koziol for their contributions to the company and culture.