The figure of 37,600 staff represents worldwide employment since the company split.
Reuters reported that the employment figure for Xerox worldwide as of 31 December was 37,600, with the figure representing employment after the split of the company, and down 2,400 from 31 December 2015. The OEM reported earlier this month that it has allocated $100 million (€93 million) for future mergers and acquisitions.
The OEM announced at the beginning of 2016 that it planned to split into two companies before the end of the year, with the split into Conduent and Xerox – for business process optimisation and hardware respectively, and worth $11 billion (€10.1 billion) and $7 billion (€6.4 billion) respectively. Xerox’ new CEO was revealed to be Jeff Jacobson, while Ashok Vemuri will run Conduent.
Last November, the OEM’s largest shareholder, who attempted to block the split, agreed a settlement in a court case. Darwin Deason had sued Xerox because of the spin-off of its document outsourcing business, as he felt that his shares would lose value after the split. However, during November, the OEM’s board approved the split and said it would take place by 31 December.
The Recycler reported earlier in 2017 that the split had been completed, and Xerox also commented on the formal separation, stating that it is beginning “a new chapter as [a] focused industry leader in digital print technology”.