Norwalk-headquartered Xerox Holdings Corp. (NASDAQ: XRX) announced it is laying off 15% of its workforce.
In a press statement titled “Xerox Reinvention and Operating Model Evolution,” the company detailed a new “organizational structure” that highlighted its business missions a new executive leadership team while slipping in mention of its job cuts in the last paragraph of the announcement.
“By implementing this new operating model, the company will take action this quarter, targeting a 15 percent workforce reduction,” said the company’s statement. “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.”
Xerox offered no clue on how many people would be impacted by the layoffs or when it would begin to shed jobs. CNBC reported that Xerox employed about 20,500 people as of Dec. 31, 2022, which would translate into job terminations for about 3,075 employees.
