Lexmark – 1,700 jobs cut

Lexmark is cutting 1,700 jobs, or almost 13 per cent of its workforce, and says it will stop making inkjet printers as part of a drive to cut costs as it deals with shrinking sales of inkjets.

The printer and software company said Tuesday that it will close its inkjet supply plant in the Philippines by the end of 2015. It is also putting its inkjet technology up for sale.

Lexmark had about 13,300 employees as of Dec. 31. Lexmark has been shifting its focus from consumer inkjet printers, focusing on higher-profit laser printers and supplies for businesses and software services…

The job cuts include about 1,100 manufacturing jobs. Lexmark says the moves will save it $85 million in 2013 and $95 million a year by 2015. It expects to book costs of $160 million over three years for the restructuring…

via Lexmark to eliminate 1,700 jobs, stop making inkjet printers in cost-cutting drive – Winnipeg Free Press.