Xerox starts layoff notifications; expects to cut 15% of workforce in restructuring plan

Xerox has provided additional details regarding its plan to cut its workforce by 15 percent.

In a statement released Thursday, Xerox officials announced that they have started the process of informing affected employees as part of efforts to streamline the company's organizational structure.

The restructuring aims to better align with "the evolving needs of our clients and the modern workplace landscape," company officials said.

"These are difficult, but necessary decisions to meet our Reinvention commitment," company officials said in the prepared statement.

Xerox employs over 1,500 workers in the Rochester area, primarily in Webster. Any local impact of the company's restructuring has not been disclosed. Globally, Xerox has a workforce of 23,000 employees.

Xerox first announced its restructuring plans earlier this year, targeting a 15% reduction in its workforce by the first quarter of 2024.

In a statement issued on Jan. 3, the company stated that the workforce reduction would impact all levels and departments within the organization.

According to Xerox CEO Steven Bandrowczak, the restructuring will reallocate resources into three key areas: enhancing and stabilizing the core print business, increasing productivity and efficiency through the establishment of a newly formed Global Business Services organization, and executing revenue diversification initiatives with discipline.

Founded in Rochester in 1906 as the Haloid Photographic Co., Xerox is renowned for inventing the xerographic process in 1938, which was further developed and commercialized by the company. Although Xerox relocated its headquarters from Rochester to Connecticut in 1969, it is currently headquartered in Norwalk.