Lexmark Announces 1,000 Layoffs Worldwide; Number Of Local Cuts Undisclosed

Posted at 12:15 PM, Jul 18, 2018
and last updated 2018-07-18 12:15:53-04

LEXINGTON, Ky. (LEX 18) — Lexmark, the beleaguered Lexington-based maker of printers and copiers, has announced it will cut a further 1,000 positions worldwide.

The company says it told employees of the cuts late last week, calling it part of a "worldwide restructuring program." It did not say how many of the cuts would affect the local workforce.

"This difficult decision is necessary as we work to align our talent with our strategy and ensure Lexmark’s success going forward," a statement supplied by the company reads. "We are not providing location-specific numbers or other details."

The new job loses follow several previous announced cuts in recent years.

The company, which was spun off from IBM in the early 1990s, sold to China-based Apex Technology and PAG Asia Capital in November 2016.