From Dow Jones & Company:

Xerox Holdings Corp. plans to cut 15% of its workforce, totaling more than 3,000 jobs, as part of a new operating model and organizational structure. This comes amid a trend of tech companies such as Facebook, Amazon, and Microsoft announcing layoffs in 2023, with 1,183 tech companies laying off 261,997 employees globally last year, a significant increase from 2022. Google searches for “massive layoffs in 2024” have surged over 5,000%, while “tech layoffs” has also been trending. Xerox shares ended Wednesday down 12.2%, outpacing the S&P 500 index’s decline of 0.8%.



Read more: Tech layoffs in the spotlight again as 2024 kicks off with Xerox cuts