Xerox cuts 1,255 jobs in first half as Lexmark...

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Xerox Holdings Corp., based in Norwalk, Connecticut, has eliminated 1,255 positions in the first half of 2026 as part of its integration of Lexmark International and broader restructuring efforts. The company aims to reduce costs and align operations following its $1.5 billion acquisition of Lexmark in December 2025.

Restructuring Details

• 475 jobs cut in Q2 2026; 1,255 total in the first half of the year.
• Restructuring includes workforce reductions, operational consolidation, outsourcing, offshoring, exiting product lines and markets, and reducing real estate footprint.
• Recorded $71 million in restructuring charges for the first half of 2026, primarily for severance costs.
• Xerox did not disclose the geographic distribution of layoffs or how many affected employees are in Connecticut.

Financial Performance

• Second-quarter revenue increased 24% year-over-year to $1.92 billion, driven by the Lexmark acquisition.
• Reported net income of $13 million for Q2 2026, compared to a $106 million net loss in the same period last year.
• First-half 2026 net loss of $92 million, improved from a $196 million loss in the same period of 2025.

Nearly 200 of Xerox’s global workforce are based in Connecticut or report into its Norwalk headquarters. The company employs approximately 22,900 people worldwide.