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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.
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