NORWALK (dpa-AFX) - Xerox (XRX) Wednesday announced some restructuring, which would result in 15% job cuts.
The company said its new 'Reinvention and Operating Model' targets a 15% workforce reduction. The 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.
In the news release issued Wednesday, Xerox CEO Steven Bandrowczak said that the restructuring aligns the company's resources in three key areas, improvement and stabilization of the core print business, increased productivity and efficiency and revenue diversification.
Xerox announced some changes in its leadership team and said that Joanne Collins Smee, Executive Vice President and President Americas, and Tracey Koziol, Executive Vice President of Global Offering Solutions and Chief Product Officer, have left the company effective December 31, 2023.
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