"Revised headcount at December 31, 2020 of 25,100 from 24,700 (as previously reported) due to redefinition of full–time equivalent employee."
Direct lift from the Xerox Holdings Financial Model. I always check this number, even pre–Icahn and JV. Gives one indication of the health of the company, aside from the financial numbers, and validates much of what we read on this site.
Here is a listing of the number of employees through the years. The most (ACS years) was 147,600. Prior to that, Xerox was around 57,000. https://www.macrotrends.net/stocks/charts/XRX/xerox-holdings/number-of-employees
Xerox itself never had that many employees. When we were merged with ACS the total was that many. But that really wasn't a true merger. If I remember correctly when I started we had about 38000 total...maybe less.
At its height xerox had 130k WW I think. Some would say it never needed to get that big. Lots of excess back in the day could be a big reason why we have ended up here. It was all fun and games until we had some competition.