CEO Ursula Burns confirmed that the company had begun looking into its structure and portfolio since October 2015, to better reflect changes in the market.
Xerox will now be divided into a new business process outsourcing company, and a document technology firm. It is not clear if Burns will have a job in either company, now that the split is being implemented, leadership discussions will be held shortly, she said.
Xerox shares had fallen over 30 percent in the last year and the outfit had been shifting its focus towards software and services to cover its losses. The division is part of a cunning plan to allow Xerox more flexibility to respond to market trends. The company wants to get into the healthcare services industry amongst other things.