Xerox announced laying off a part of its workforce as it tries to reinvent the company amid slowing revenues. The recent announcement triggered a decline in its share price. Xerox is pursuing a new “business unit operating model” under which the corporation is “targeting a 15 percent workforce reduction” in the first quarter this year, it said in a Jan. 3 press release. “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 employs roughly 20,500 workers worldwide,…
