Xerox splits off Conduent (2017)
Xerox divided into two companies: Xerox kept printers and copiers, while Conduent took the business process services arm, including government contracts. Conduent began trading as a standalone company on January 3, 2017.
Conduent inherited a portfolio of government and commercial outsourcing contracts along with the costs of Xerox's services division.
As a standalone company, Conduent has faced recurring pressure to cut costs and improve margins.
This layoff notice is part of the same cost pressure the company has carried since its 2017 birth as a standalone firm.
