*NEWS*LEXMARK TO CUT MORE JOBS…….

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*NEWS*LEXMARK TO CUT MORE JOBS…….

 user 2006-08-15 at 12:42:00 pm Views: 53
  • #16189

    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.