There are two types of people at Xerox: (1) those coasting to retirement who are likely 55 and older who don't need another job, and (2) those with a career ahead of them.
If you are in group (1) then congrats on your upcoming retirement, it's likely to happen within the next year.
If you are in group (2) then I really hope you have your resume up to date, and are at a minimum exploring opportunities. Make connections to recruiters and other companies who are in your area, or who offer remote work if that's something you do. It can never hurt to get your name out there, even if it's simply to practice the interview process if you've spent most of the last couple decades at Xerox.
Group (2) might have years left, or days, you really never know. It's much easier to find a job when you have a job, than have to be under the stress of interviewing when you have no income or healthcare.
And no matter what, keeping your skills up to date is up to you. Xerox is unlikely to invest in you, but if you can find skill sets that compliment what you already know, or better yet help Xerox so you can justify continuing to build up those skill sets, then go for it!
Good luck to everybody tomorrow. I have a feeling that it is not going to be that large, but we'll continue to see these targeted reductions throughout the year.