LEXMARK TO CUT MORE JOBS…….

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LEXMARK TO CUT MORE JOBS…….

 user 2006-08-15 at 12:41:00 pm Views: 65
  • #16158

    Lexmark to cut 100 more jobs
    August  2006 Lexmark International Inc. will cut a total of 925 positions as part of its restructuring — 100 more jobs than previously announced.When it reported a 47 percent profit decline in January, the Lexington, Ky.-based company said it would freeze its U.S. retirement plans, cut 825 jobs and transfer 525 jobs to low-cost countries to reduce costs, particularly in the areas of supply chain, administrative, marketing and sales.In a filing with the U.S. Securities and Exchange Commission this week, Lexmark said about 1,000 of those jobs have been eliminated or transferred thus far, and it would cut 100 more jobs than expected, mostly in Europe.Lexmark also said its restructuring charges would total about $120 million instead of the previously announced $130 million.The company, which develops, manufactures and supplies printers and printing-related products, said it expects restructuring activities to be complete by the end of this year.