The world's largest supplier of toner photocopiers and their accessories, Xerox Corporation, said Wednesday that it is planning to reduce 15% of its workforce.
According to a statement released by the company, the layoffs are part of a new operating model and organizational structure. Therefore, "by implementing this new operating model, the company will take action this quarter, targeting a 15% workforce reduction." Moreover, the company said the suggested reductions would be "subject to formal consultation with local works councils and employee representative bodies where applicable."
CEO Steven Bandrowczak announced today that the new operating model focuses on three key areas: stabilizing the core print business, enhancing productivity via a Global Business Services organization, and diversifying revenue. In support of this new direction, Xerox has reshuffled its executive team, with John Bruno as President & COO and several other appointments.