Xerox Reinvention and Operating Model Evolution

Xerox Holdings Corporation (NASDAQ: XRX) today announced a new operating model and organizational structure to further the company’s Reinvention.

“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,” said Steven Bandrowczak, Chief Executive Officer at Xerox. “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.”

Three key Reinvention priorities and intended outcomes:

• Core Print Business:
  • Simplify our core products to align with the needs of economic buyers of today’s hybrid workplace.
  • Increase investment in a partner-enabled go-to-market model that supports how clients prefer to procure their print solutions.
  • With partners, pursue strategic market share gains by increasing reach, improving cost to serve, and enhancing profitability.
• Global Business Services:
  • Through simplification, drive enterprise-wide efficiency and scalability with centrally coordinated internal processes leveraging shared capabilities and platforms.
  • Garner operating leverage and investment capacity for our growth segments through lower transaction costs.
  • Improve quality for all business units and functions while focusing on continuous improvement of clients’ and employees’ experiences.
• IT and Digital Services:
  • Create greater organizational focus on Xerox’s emerging Digital Services and IT Services capabilities to accelerate revenue diversification toward markets with higher growth and profitability profiles.
  • Implement a new multi-segment organizational focus to drive internal alignment and incremental services penetration with existing and prospective clients.

New organizational structure to support strategic execution: