Print, copy, and services giant Xerox says it is looking for ways to improve its business efficiency and how it works with clients via what it calls Xerox’s “reinvention,” which includes sweeping changes at the executive level, big layoffs, and a reorganization of some of its business functions.
Xerox Holdings Corp. Wednesday reorganized its business as part of what it calls its “reinvention,” aimed at better aligning its resources. Along with the reinvention, the Norwalk, Conn.-based services provider and printer and copier heavyweight also made significant changes in its executive leadership team and said it plans to lay off about 15 percent of its workforce – which could amount to more than 3,000 jobs.
The plans, which includes reorganizing the business around areas, are key for helping Xerox execute more efficiently and better serve customers going forward, said Xerox CEO Steven Bandrowczak in a statement.
“The evolution of Xerox’s reinvention aligns our resources in three key areas – improvement and stabilization of our core print business, increased productivity and efficiency through the formation of a new Global Business Services organization, and disciplined execution in revenue diversification,” Bandrowczak said. “The shift to a business unit operating model is a continuation of our client-focused, balanced execution priorities and is designed to accelerate product and services, go-to-market, and corporate functions’ operating efficiencies across all geographies we serve.”
Significant changes from the Xerox “reinvention” include the development of a new Global Business Services function to simplify how the company does business, along with a sweeping re-organization of its executive suite which will has led to multiple multiple changes in the top roles as well as the departure of at least two long-term executives. The changes will also see Xerox lay off about 15 percent of its workforce.
A Xerox spokesperson responded to a CRN request for more information by saying that changes in how Xerox reports its finances have yet to be determined. The company currently breaks out its revenue by “print and other” and “financing (FITTLE).” Revenue is also broken out according to “equipment sales” and “post sale revenue.
Xerox Forms A New Global Business Services Function
A major part of the reorganization is the realignment of Xerox’s resources into three new areas. Included in these is a newly-formed function called Global Business Services. A Xerox spokesperson told CRN via email that Global Business Services is a support function for Xerox’s customer facing activities including financing, and not a separate division or business unit.
Headed by Xerox Chief Transformation and Administrative Officer Louie Pastor, Global Business Services going forward will be focused on simplification to drive enterprise-wide efficiency and scalability with centrally coordinated internal processes leveraging shared capabilities and platforms. GBS is also charged with reducing transaction costs to help Xerox leverage and invest in its growth segments, and with continuously improving clients’ and employees’ experiences.
Here are more key details about Xerox’s latest moves.
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