Xerox cut about 900 jobs worldwide in its third fiscal quarter of 2018, the company said.

Xerox Corp. cut about 900 jobs worldwide in its third fiscal quarter of 2018, which ended Sept. 30, according to a release this week announcing the company’s Q3 earnings results.

About $29 million in restructuring costs were related in part to $40 million in severance pay given to 900 employees last quarter, a Xerox spokesperson said Thursday.

The severance cost per employee was lower in Q3 compared to the same period last year, due to a reduction in employee severance packages, according to a Xerox news release.

At least one layoff event occurred at Xerox’s local offices in Webster in the last few months.

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A layoff in August comprised less than 250 individuals in New York state, and included internal IT software engineers, program managers and associated support, the company said at the time. The cuts were part of Xerox’s initiative to optimize its operations globally.

More specific job numbers on local layoffs have not been released.

Here are the biggest numbers from Xerox’s Q3 earnings report:

Revenue stood at $2.4 billion, down 5.8 percent over this period last year.

Earnings per share was at 34 cents, down 33 cents compared to last year’s Q3.

Operating cash flow was $284 million in the third quarter.

The company returned $284 million to shareholders through share repurchase and $69 million through dividends in the third quarter.

Xerox updated its full year operating cash flow guidance to a range of $1 billion to $1.1 billion, and increased its share repurchase expectations for 2018 from $500 million to $700 million.

STADDEO@Gannett.com

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