Xerox CFO to exit post after less than a year

Core Insights - Xerox is undergoing a significant reorganization following a mixed earnings report, with a notable revenue increase but a decline on a pro forma basis [3][4] - The company reported a revenue gain of $1.96 billion for Q3, marking a 28.3% increase year-over-year, but a 7.8% decline when excluding recent acquisitions [3] - Job cuts have been initiated as part of the integration process following the $1.5 billion acquisition of Lexmark, indicating a strategic move to optimize resources [4][5] Financial Performance - Xerox's Q3 revenue reached $1.96 billion, reflecting a 28.3% increase compared to the same quarter last year [3] - On a pro forma basis, revenue declined by 7.8%, highlighting challenges in the current macroeconomic environment [3] Organizational Changes - Chuck Butler will take over the finance department effective December 3, succeeding Mirlanda Gecaj, who is leaving for new opportunities [6][7] - Gecaj's departure is described as a mutual decision, and she played a significant role during a transformative period for the company [7] Strategic Moves - The company is focused on cost savings and resource optimization as part of its integration strategy post-Lexmark acquisition [4][5] - Employee notifications regarding workforce reductions have begun, emphasizing the challenges of merging operations [5]