Xerox targets 15% workforce reduction, announces new operating model

Xerox announced a new operating model and organizational structure to further the company’s Reinvention. The company has redesigned and realigned its executive team to support the new operating model. Effective immediately, John Bruno will lead the enterprise alignment of Print, Digital Services, and IT Services businesses. Louie Pastor returns to Xerox as chief transformation and administrative officer, charged with overseeing the Xerox Reinvention Office and the newly established Global Business Services organization. Flor Colon, has been appointed chief legal officer and corporate secretary. In addition, Joanne Collins Smee, executive VP and president, Americas and Tracey Koziol, executive VP of global offering solutions and chief product officer, have departed the company effective December 31, 2023. By implementing this new operating model, the company will take action this quarter, targeting a 15% workforce reduction. 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.