Xerox will lay off 3,000 people as part of the reorganization

According Press releaseThe company’s restructuring plan includes simplifying products in its core business, increasing efficiency in global business services and increasing its focus on IT and other digital services.

Xerox said it also changed the structure of its management team to help implement the new model. US director Joan Collins and product director Tracy Kozel have left the company.

And while the company’s capitalization over the past three months rose 2.7% to $2.22 billion amid growth in the S&P 500, Xerox shares fell 12% on Wednesday, as CNBC reported.

Another company also started the year with layoffs: rental housing startup Frontdesk laid off its entire workforce (200 people). This follows failed attempts to attract additional capital, TechCrunch analysts say.

Disbanded Frontdesk staff are expected to apply transition to public administration It is an alternative to bankruptcy.

Previously founded in 2017 by Frontdesk raised around $26 million from investors such as JetBlue Ventures, Veritas Investments and Sand Hill Angels.